Analyzing the profitable short trade from last week. Recent developments on the daily chart point toward bearish weakness. A true story about a pound-trading cyborg. Recap on the double top progress Last week Tuesday, we looked at the double top formation on 6B futures, seeing the potential for a short trade that had a defined Read More…
Double-top formation is the most apparent technical indicator we are focusing on. RSI bearish divergence adds some strength to the potential double-bottom. Why expectations lead to disappointments in financial markets. Technical Analysis The daily chart on 6B is currently forming a double-top pattern. Price is still a way away from the neckline, but traders who Read More…
Recent inflation trends mean the Dollar is weakening and the Pound is strengthening The world bank is calling for a recession this year Bulls are in full control as they target the point of control level at $1.3 Fundamentals Driving New Price Discovery With the recent inflation showing a reversal in trend, we are seeing Read More…
Dollar weakness after the US inflation report boosts the British pound futures. The UK economy shrank in September, signaling the start of a possibly long recession. Markets are awaiting the new budget by Jeremy Hunt. On Friday, the British Pound (6B) futures prices gained ground for a second day on expectations that the Federal Reserve Read More…
The Bank of England (BoE) might push the UK economy into a depression with rising interest rates. According to a Reuters poll, the Bank of England will raise borrowing costs by a further 50 basis points (bps) starting next month before reducing the rate to a more typical 25 bps increase in November and then Read More…
Britain will decide on its next Prime Minister in September. A new Prime Minister will adopt a different policy affecting pound futures. The BoE warned of a looming recession in the UK. The battle for the position of the prime minister of Britain is entering its last stretch, and the decision in September will likely Read More…
