Wednesday, April 21, 2010

Update on GBP/USD Weekly Chart...

I am definitely not the most patient person in the world, so trading a weekly chart is a bit of an exercise in patience.

Recall the GBP/USD Weekly Chart I was eyeing some time back. It is now starting to look even more compelling because the recent push up in prices brings us closer to the erogenous 1.5436 area. If prices remain poised above this zone, this could be bigger than... well, maybe just plain big. But that's what I said last week.

Are we going to see 1.80 this year? I really wonder. Weekly charts are possibly like the Hermes Kelly waiting list. You could be on it for years. I'll be happy even with a retest of last year's high, which was about 1.7043.




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