Has The Trend In the British Pound Turned Up?
For the past few weeks I've been writing about how the British Pound was set up for a rally. Well today the Pound rallied nicely breaking its downtrend line and in my opinion turning the trend from down to up.
I think this currency put in a significant bottom and will now rally. My upside target for the British Pound is a test of the high from last November!
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6 comments:
Thanks to the owner of this blog. Ive enjoyed reading this topic.
I truly appreciate it.
How do you invest in the pound?
Thanks guys...
Nefri, you buy the Pound through the forex exchange or futures market. You can also trade FXB but it might be kinda thin.
Hey Kevin,
Thanks for the great observations. I was just wondering if you could also buy world currency options as shown on this page:
http://www.phlx.com/market/WorldCurrencyOptions.asp?
Keep up the great work!
Banman
kevin:
when you buy pound in forex, do you also get a higher interest on your holding (i think ~5-2~ 3% more than dollar holdings)
thx
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