(This is an excerpt from an article I originally published on Seeking Alpha on June 19, 2012. Click here to read the entire piece.)
In “British Pound Surges Into Resistance – Buy Dips As Government and Bank of England Try To Ease Credit Crunch” on June 15th I argued that it is time to buy the dips in the British pound versus the U.S. dollar (FXB) with a sell target just under the 200DMA resistance. So far, so good on this strategy. {snip}
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Source: FreeStockCharts.com
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Be careful out there!
(This is an excerpt from an article I originally published on Seeking Alpha on June 19, 2012. Click here to read the entire piece.)
Full disclosure: long GBP/USD