Issued: 04/20/2014
June British pound:
1. Friday’s daily close below $168.12 in the June British pound is the weaker position and the earliest indication for continued decline and test/attempt at $167.65, then at/near $167.08.
2. Therefore, any further test of and hourly or especially daily close below $168.12 makes that level (or lower) selling territory for a tradable decline to $167.65, then $167.08 (or lower). Will message any lower entry in tomorrow’s session if the market further confirms.
David Williams
Issued: 04/22/2014
June British pound:
1. Yesterday’s (Monday, April 21) June British pound retested the critical $168.12 potential short selling territory noted in the previous update and closed the day at $167.84.
2. Today’s session advanced back to the $168.12 level, invalidating the original trade set up (by now, lower prices would have occurred). Any short entry taken at or below $168.12 should be exited at this point (current price, $168.12). Will message any further entry or indication as the market confirms.
David Williams