GBP (British Pound)

Re: GBP (British Pound)

Postby winston » Mon Jan 30, 2017 8:04 am

Chart of the day: Cable not out of the woods yet

The bullish engulfing weekly candle suggests an interim double bottom at US$1.20 is in the making.

However, only once it has cleared US$1.30 can the risk of further downside probes be avoided.


Source: SCMP

http://www.scmp.com/business/global-eco ... -woods-yet
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Re: GBP (British Pound)

Postby winston » Tue Feb 07, 2017 6:37 am

GBP's Downward Move ?

Many want to know how the pound will move after its recent strong rebound from 1.20 to nearly 1.28 against the US dollar amid Donald Trump's aversion to greenback becoming too strong.

The cable fell below 1.25 yesterday. Deutsche Bank will keep a bearish view on the pound.

Article 50 talks may start on March 9. But it is unlikely for Britain and the European Union to clarify various issues during the transitional period.

The spring election in France and the potential summer poll in Italy make the EU take a firm stance in its negotiations with Britain.

A hard Brexit will definitely happen.

Trump might encourage more American firms to repatriate home billions of US dollars parked overseas, possibly fueling capital flow and demand for the greenback.

Because of this, the pound may fall to 1.10 against the dollar in the medium term.

Source: Dr Check, The Standard
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Re: GBP (British Pound)

Postby winston » Tue Mar 14, 2017 4:55 pm

British Pound Is Too Expensive, Says Goldman

By Shuli Ren

There are signs that momentum in UK economic activity is weakening and we expect lower growth in coming months.

Article 50 could be triggered as soon as this week and news that European leaders will not make the divorce easy should lead to a more negative risk premium being built into the currency.


While the pound has fallen about 18% against the dollar since Brexit last June, it is down only 12.5% against the euro.


The EU repeated its previously held view that an independent Scotland would have to re-apply for membership under A49, so the upside for GBP is probably limited.


Source: Barron's Asia

http://blogs.barrons.com/asiastocks/201 ... s-goldman/
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Re: GBP (British Pound)

Postby winston » Mon Apr 03, 2017 7:23 am

Chart of the day: Pound gathers steam

by Nicole Elliott

British Prime Minister Theresa May on Wednesday triggered Article 50 to start proceedings to leave the European Union and by Friday, Donald Tusk, president of the European Council, laid out its terms.

In the process, the country did not fall off a cliff edge and the Brits kept calm and carried on.

This was reflected in the exchange rate where the pound gained a little further against the euro and implied volatility on puts and calls is now equal – at the observed level of 9.25 per cent.

Since mid-July, the euro has formed a potential complex head-and-shoulders top, its neckline just under Fibonacci retracement support at £0.8435 per euro.

A weekly close below here targets £0.786, helped by a death cross in the 50- and 200-day moving averages.

Source: SCMP

http://www.scmp.com/business/global-eco ... hers-steam
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Re: GBP (British Pound)

Postby winston » Thu Apr 20, 2017 1:51 pm

The Worst Investments You Can Make: CurrencyShares British Pound Sterling Trust (FXB)

Expenses: 0.4%

Another of the world’s worst investments is currencies.

Just like gold, currencies are a function of supply and demand, as well as the macroeconomic fortunes of a given country.

Not only that, they are subject to the political stability of a given country and even a given region.

There’s no investment to be made unless, like gold, you somehow manage to jump into a currency at a time when it begins a sustained upward move. That’s market timing, also known as gambling, and that is not an investment.

Currencies, like gold, may act as a hedge in certain sophisticated circumstances, but good luck on timing that investment correctly.

Think about the United Kingdom. It seems like the UK is thriving, with great economic growth, good times, and soaring real estate prices. Yet Guggenheim CurrencyShares British (NYSEARCA:FXB) has fallen about 40% since 2008.

Stay away from all of these. They are as bad as dropping money into a slot machine.

Source: Investor Place
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winston
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Re: GBP (British Pound)

Postby winston » Thu Apr 20, 2017 1:51 pm

The Worst Investments You Can Make: CurrencyShares British Pound Sterling Trust (FXB)

Expenses: 0.4%

Another of the world’s worst investments is currencies.

Just like gold, currencies are a function of supply and demand, as well as the macroeconomic fortunes of a given country.

Not only that, they are subject to the political stability of a given country and even a given region.

There’s no investment to be made unless, like gold, you somehow manage to jump into a currency at a time when it begins a sustained upward move. That’s market timing, also known as gambling, and that is not an investment.

Currencies, like gold, may act as a hedge in certain sophisticated circumstances, but good luck on timing that investment correctly.

Think about the United Kingdom. It seems like the UK is thriving, with great economic growth, good times, and soaring real estate prices. Yet Guggenheim CurrencyShares British (NYSEARCA:FXB) has fallen about 40% since 2008.

Stay away from all of these. They are as bad as dropping money into a slot machine.

Source: Investor Place
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: GBP (British Pound)

Postby winston » Thu Apr 20, 2017 3:46 pm

Sold GBP today

Don’t Chase Sterling Rally

By Daniel Shane

Don’t chase the recent rally in Britain’s pound sterling, Bank of Singapore is warning.

Bank of Singapore currency strategist Sim Moh Siong argues that recent strength in sterling doesn’t make an awful lot of sense.

The biggest thing weighing on the pound remains Britain’s exit from the European Union, and the risk of a so-called ‘hard’ Brexit, where the U.K. withdraws from the bloc without significant trade deals already in place.

May having a stranglehold on parliament doesn’t really change that.


He says the currency is still “cheap,” but investors should hold off and wait for sterling to fall back to USD1.20 to enter, which is a possibility if talks between the U.K. and European Union turn sour.


The British government activated Article 50 of the E.U.’s Lisbon Treaty last month. That sets in motion a two-year timeframe for Briton to withdraw from the union.


Source: Barron's Asia

http://blogs.barrons.com/asiastocks/201 ... ing-rally/
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Re: GBP (British Pound)

Postby behappyalways » Fri Apr 21, 2017 2:11 pm

UK: pound bottoms on the weekly chart.
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Re: GBP (British Pound)

Postby winston » Mon Apr 24, 2017 8:37 am

Chart of the day: Upside potential for British pound

by Nicole Elliott

With the first round of the French presidential election over the weekend, its final round in May and a British general election in June, there is a lot at stake for both the euro and the pound.

The weekly chart of the pound and the euro shows a complex head-and-shoulders-top pattern.

October’s high of £0.9365 was the weakest level the pound has been against the euro zone’s single currency since 2008’s record at £0.98.

The right-hand pair of shoulders are neat whereas the left ones less so.

Based on the formation’s height, the first (conservatively) measured target would be £0.76 once the neckline at £0.83 is decisively broken.

By its width, a second target would be £0.70. Both targets are just below the middle of its lifetime range.

Source: SCMP

http://www.scmp.com/business/money/arti ... tish-pound
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Re: GBP (British Pound)

Postby winston » Mon Apr 24, 2017 8:37 am

Chart of the day: Upside potential for British pound

by Nicole Elliott

With the first round of the French presidential election over the weekend, its final round in May and a British general election in June, there is a lot at stake for both the euro and the pound.

The weekly chart of the pound and the euro shows a complex head-and-shoulders-top pattern.

October’s high of £0.9365 was the weakest level the pound has been against the euro zone’s single currency since 2008’s record at £0.98.

The right-hand pair of shoulders are neat whereas the left ones less so.

Based on the formation’s height, the first (conservatively) measured target would be £0.76 once the neckline at £0.83 is decisively broken.

By its width, a second target would be £0.70. Both targets are just below the middle of its lifetime range.

Source: SCMP

http://www.scmp.com/business/money/arti ... tish-pound
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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