“Pound Dollar Has Been Nothing But a Disaster” - Weekly Technical Forecasts From BK Asset Management
- Written by: The Editor
Analyst Boris Schlossberg at BK Asset Management tells clients what the outlook has in store for the major exchange rate pairs in his latest weekly forecast note.
Highlights:
Pound vs Dollar
Pound Dollar Has Been Nothing But a Disaster.
But, 1.56 - 1.55 level very strong support.
Relatively the pound has the chance to bounce back.
Euro vs Pound:
Euro pound hits a quadruple resistance level. Should traders short it?
Euro vs Dollar:
Euro dollar hits support then “squeezes the hell out of everybody.”
All the negative news on the euro has been priced in.
Decline in the euro to 1.20 is contingent on the US Fed.
FOMC Meeting is key to the outlook.
Can the 1.25 level be reached?
Aussie Dollar:
Going nowhere really.
A pound bounce back vs the Aussie?