|Day's Range||133.062 - 133.077|
|52 Week Range||124.9300 - 147.9320|
The British pound has gone back and forth during the course of the week, bouncing around the ¥133 level, as we continue to try to figure out where we are going next.
The British pound initially tried to rally against the Japanese yen on Friday but has pulled back just a bit as we continue to see consolidation. At this point, the market is likely to have to make some type of significant move.
The British pound has tried to rally during the trading session on Thursday but gave back the gains as the employment figures loom large for the Friday session.
We strongly believe China wants to show some strength in their perceived economic recovery and that these PMI numbers are somewhat “manufactured for effect”.
The British pound has fallen initially during the trading session on Tuesday, but then turned around to show resiliency again. The market seems to be testing the ¥135 level in general, so pay attention to it.
The British pound has rallied during the week, bouncing from the candlestick that had been so negative during the previous week. The ¥130 level seems to be holding as support so far.
The British pound pulled back a bit into the weekend as the bounce has been so strong recently. Ultimately, this is a market that is very sensitive to risk appetite, so it should not be a huge surprise to think that it would be so volatile.
The British pound has rallied a bit during the trading session on Wednesday, breaking towards the ¥133.50 level. However, one should note that we did pull back quite a bit from there immediately and that isn’t necessarily a confidence building move.
The British pound shot through the major resistance barrier of ¥130 in the middle of the session, as there is a bit of a “risk on” rally going on around the world.
The British pound initially fell during the trading session on Monday but bounced quite a bit during the US session as the Federal Reserve has announced that it was going to buy assets, thereby putting more of a “risk on” attitude into the Wall Street session.
The British pound has rallied significantly after initially falling apart during the week. That being said, the ¥130 level is an area that will attract a lot of attention, but keep in mind that the bounce has been extraordinarily brutal.
The British pound rallied significantly during the trading session on Friday, reaching towards the ¥130 level. This is an area that could be resistive, so watching how it opens on Monday will be crucial.
The British pound has initially tried to rally during the trading session on Wednesday but found the ¥130 level to be a bit too much to continue going higher. By breaking below there again, the market has broken all the way down towards the ¥127 level.
The British pound initially tried to rally during the trading session on Tuesday but gave back the gains to plunge below the ¥130 level.
The British pound initially tried to rally after a slew of rate cuts around the world, but then sold off yet again as the market crashed into the crucial ¥130 level. At this point, it looks as if rallies will still continue to be sold into.
The British pound initially gapped lower against the Japanese yen, fill that gap, and then broke down even further. Having said that, on Friday the market bounced quite stringently.
The British pound bounced significantly during the trading session on Friday, reaching towards the ¥134 level. We have pulled back a bit from there during the trading session during New York, but at this point I think this is simply more back-and-forth as we try to figure out what to do and possibly some short covering going into the weekend.
The British pound got hammered against the Japanese yen during trading in a major “risk off” move overall. At this point, the fear is getting palpable around the world.
The British pound pulled back a bit during the trading session on Wednesday as the Bank of England has cut rates by 50 basis points. By doing so, the market initially sold off the British pound but at the end of the day this currency pair is more about risk appetite than anything else.
The British pound rallied during trading on Tuesday in a bit of a bounce back from the massive breakdown on Monday. With this, we have filled a gap that needed to be done.
The British pound has gapped lower to kick off the week, and then broke down towards the ¥132.50 level. Because of this, the market looks as if we are due for a short-term bounce, but quite frankly this ugliness signifies more selling in the future.
The British pound broke down a bit during the week, slicing through the 50% Fibonacci level. By doing so, it shows that perhaps we have further to go to the downside and in a big “risk off” type of scenario, that could very well make quite a bit of sense.
The British pound pulled back slightly against the Japanese yen but does look as if it is finding a little bit of support after the jobs number in America came out, perhaps lifting sentiment just a bit. The market certainly looks as if it is trying to form some type of floor.
The British pound has gone back and forth during the trading session on Thursday, as we are waiting to see whether or not there is enough momentum to either rally or break down.