Tuesday, December 3, 2013

British Pound is Rallying

The above chart shows the pound verses the dollar.  Over the last few months the economic news from the UK has been very promising.  It has also been better than that coming from the US, which explains the rally that started in August.  Prices have spent the last month and a half consolidating between the 157 and 159/160 level.  But over the last few days, prices have advanced to just over 161.  A strong move upward from here would be a buy signal.