The new script for the GBP/USD market

The direction of the pound against the dollar has proven decidedly tricky to pin down. Spread betting expert John C Burford puts Plan B into action.

I entitled my Wednesday post "The GBP/USD defies my analysis", because my forecast for a turn on 21 August was wrong the market did go on to higher levels. However, I had a Plan B. And it seems my new analysis is working this morning.

On Wednesday, just before the surprise' announcement that the Fed would not be doing any tapering any time soon, I posted a chart on GBP/USD that showed a terrific tramline pair:

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John is is a British-born lapsed PhD physicist, who previously worked for Nasa on the Mars exploration team. He is a former commodity trading advisor with the US Commodities Futures Trading Commission, and worked in a boutique futures house in California in the 1980s.

 

He was a partner in one of the first futures newsletter advisory services, based in Washington DC, specialising in pork bellies and currencies. John is primarily a chart-reading trader, having cut his trading teeth in the days before PCs.

 

As well as his work in the financial world, he has launched, run and sold several 'real' businesses producing 'real' products.