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Trading Insights

GBP/USD: Respect the Channel Reversal

The cable has moved higher through the downtrend line of the Channel Down on the daily chart. This move is accompanied by a break though the 1.6200 level on the pair which has been resistance since the Jul13 rally and represents a break that could really attract momentum.

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With the BOC ziggging & RBA zagging: AUD/CAD

I’m not usually a huge cross-rate fan, but the minutes from last night’s RBA release and the BOC rate statement both being digested there’s reason to look a the AUD/CAD. Bottom line: Traders are discounting a rate hike in the loonie while simultaneously “baking-into-the-cake” a rate CUT in the aussie.

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Poverty is untested potential.Denis Waitley