Where is the British pound headed?

Again, it’s the holding time that is important. Are you holding it for a few weeks or a few months?
This is an end of the day report which offers a investment perspective for ETF and/or Spot investors. FXB Currency shares is the British pound ETF that investors can buy or sell. This is not an intra day trading report.
Our multi week outlook is negative on FXB. Sub 1.6 we continue to look lower first till 1.52. At this point we are not looking lower below 1.52 because unlike multi week short term Jiseki which is negative (SLIDE2), the larger primary multi month Jiseki has bottomed and is positive (SLIDE 4). Multi month Jiseki is slow and hence is less sensitive. This current outlook is challenged if GBPUSD breaks above 1.6. We review above 1.6 and below 1.52. GBPUSD Current price is 1.5793. Even technical momentum remains negative.
The latest Alpha carries a detailed technical case of the GBPUSD, and a multi year outlook, levels and projections.
Enjoy the latest Alpha Forex
Coverage Global: S&P500 components, Global Indices, ETF SPDRS, Commodities, Bonds and Currencies

Jyoti Nangrani, CMT (Chartered Market Technician) from the Market Technicians Association. She has 5 years of experience in Technical Analysis covering Equity and Commodity markets. She holds a Masters diploma in E-Business and is currently pursuing the MS Finance from ICFAI, Hyderabad. She is a Senior Technical Analyst at Aditya Birla Money covering Indian Equity Markets. She worked as a part of the core strategy team at Tower Capital devising CRM and MIS systems for Debt/Equity and Commodity divisions. She is passionate about Technical Analysis and considers it an extremely valuable skill in current times.