E-mail:    

Average performance for 10 FX majors since Sterling's low on 17th October 2016

It can be seen from Chart 2 that despite the latest dip, Sterling's average performance line (since the 17th October low) just about continues to develop rising highs & lows, but could be starting to enter a corrective phase to partially unwind the 2 month rise which recently reached a performance peak of 7.25%.  

Taking a look at Sterling's 3 month daily charts (charts 3 to 12), we can see that all 9 are now starting to consolidate or correct lower, but the overall structure for most of them remains bullish.  GBPUSD is furthest into the corrective phase and if just one of the 9 rates were to fully retrace the recovery phase from October's low, then GBPUSD is most likely to be it.  Generally speaking, the setbacks look corrective in nature and the final chart (the Sterling average performance basket) summarizes the trend. The current corrective phase could last several more weeks before eventually leaving a key higher low before the potential start to a renewed recovery phase.

 GBPUSD 3 month chart                                                       GBPEUR 3 month chart

Sterling’s Recovery Phase, 10 FX majors, Currency Analysis, fx trader, forex 22Dec16 GBPUSD 3mSterling’s Recovery Phase, 10 FX majors, Currency Analysis, fx trader, forex 22Dec16 GBPEUR 3m

GBPJPY 3 month chart                                                          GBPCHF 3 month chart

Sterling’s Recovery Phase, 10 FX majors, Currency Analysis, fx trader, forex 22Dec16 GBPJPY 3mSterling’s Recovery Phase, 10 FX majors, Currency Analysis, fx trader, forex 22Dec16 GBPCHF 3m

  GBPCAD 3 month chart                                                    GBPAUD 3 month chart

Sterling’s Recovery Phase, 10 FX majors, Currency Analysis, fx trader, forex 22Dec16 GBPCAD 3mSterling’s Recovery Phase, 10 FX majors, Currency Analysis, fx trader, forex 22Dec16 GBPAUD 3m

GBPNZD 3 month chart                                                   GBPNOK 3 month chart

Sterling’s Recovery Phase, 10 FX majors, Currency Analysis, fx trader, forex 22Dec16 GBPNZD 3m

Sterling’s Recovery Phase, 10 FX majors, Currency Analysis, fx trader, forex 22Dec16 GBPNOK 3m

 

 

          

GBPSEK 3 month charт                                                    Sterling’s average performance 3 month chart

Sterling’s Recovery Phase, 10 FX majors, Currency Analysis, fx trader, forex 22Dec16 GBPSEK 3m

Sterling’s Recovery Phase, 10 FX majors, Currency Analysis, fx trader, forex 22Dec16 GBP avg perf 3m

<<Previous     Next>>