Sterling Decline

Good morning dynamic traders.

The Pound Dollar has been on the decline since November 9th 2007. After good support at 1.93 region had been breached in August 2008 this pair continued it's downtrend.

Currently GBPUSD is trading at 1.74 zone and entered into the sell zone on Monday with the next major support level at the 1.70 area. This will be a key area to watch as a breach of this will see further declines. However, if this pair levels off here then look for a 123 set up. If we do not see a break of support then we will probably be in indecision territory and the next hand being dealt is likely to be one of consolidation. The rate decision on Thursday will be a big factor for the direction of Sterling Dollar.

Dollar hits 6 month low against the Yen on Monday but gained against the European currencies. Concerns are increasing over the finanical system in the UK. Here's a good luck bull for the markets.



A few news releases for Tuesday you should be aware of:

UK Manufacturing
President Trichet
President Bernanke
FOMC Minutes
Australian Home Loans

Anne and I would like to congratulate SJ on her trading since completing our mentoring webinars. My understanding is SJ has persistenly and stubbornly followed our strategies without deviation and as a result she is achieving her consistency. Well done!

Lastly, since the last two weeks our inbox has collected over 1300 emails and it will take us a few days to go through them all. Those awaiting a reply please be patient and we will reply to everyone in turn. Should you not have recieved a reply by the end of this week then please resend your email as it may have found it's way into our spam folder.

Anne's Dynamic Trader Blog

Good trading...

Forex Analyst
Javid Shaik