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  • Could GBPUSD Lead The Majors Lower?

    From seekingalpha.com

    Read Full Story at seekingalpha.com

    One of the smartest men I know, and a great trader and investor to boot, Dr. Bill Williams once told me that the smartest thing you could tell yourself was "I don't know". Implied in that sage advice is the equally valuable "never pretend to understand something you don't". I've been thinking of Bill's advice recently when considering the British Pound. We have been focused on GBPUSD recently because the majority of its tradeable patterns have been lower since January 9th -- see Figure 1 -- and it has been behaving very nicely from a fractal perspective - each counter-trend rally is ... (full story)

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    • Jan 21, 2013 7:13pm
    • #1
    • Quote
    • Trout

        527 posts

    • the correlation to watch though is the yen -- as the yen goes so go the majors where usdjpy weakness = majors weakness
    • Jan 21, 2013 7:31pm
    • #2
    • Quote
    • Pip Anon

        2,018 posts

    • Very true, I have noticed that. Previous weeks it looked as if USDJPY traded in tandem with the S&P, but not with Majors. I like Pound futures personally to play on the potential triple-dip in England.
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  • Posted: Jan 21, 2013 4:31pm

    Submitted by: Trout

    Category: Technical Analysis

  • 942 Views

  • 2 Comments

    Trout, Pip Anon

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