GBP USD Erases Earlier Losses

The GBP USD has erased all of its earlier losses and is now trading higher.

The GBP USD has erased all of its earlier losses and is now trading higher. This morning the British Pound opened under pressure after a story leaked over the week-end that the Bank of England was considering expanding its asset-buyback program. Last week speculators drove up the Pound as comments from a BoE official hinted that it would end the program. Today’s action demonstrates that positive momentum is still present in the market.

James A. Hyerczyk has been actively involved in the futures markets since 1982. He has worked in various capacities within the futures industry from technical analyst to commodity trading advisor. Using W. D. Gann Theory as his core methodology, Mr. Hyerczyk incorporates combinations of pattern, price and time to develop his daily, weekly and monthly analysis. His firm, J.A.H. Research and Trading publishes The Forex Pattern Price Time Report... More

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