Time for a break in the pound? Chart view…

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Between these two clashing powers lies China. As the nation in the triad with the broadest policy options, China is positioned to play Russia and the United States off each other, much as the United States did with China and Russia in years past.

                                                           David Gordon and Jordan Schneider, Treacherous Triangle

Commentary & Analysis

Time for a break in the pound?  Chart view…

The pound has been on a tear as you likely know; for good reason given the surprising rebound in the UK economy.  Technically a case can be made the high is in place at 1.6996—time will tell.  But given how far and fast the currency has run against the dollar, a decent and “playable” correction would be no surprise.  That’s why Black Swan Forex subscribers entered this trade short today—the risk/reward looks quite good.  Take a look at our hourly wave chart of GBP/USD:

Free Webinar Announcement

This Friday, May 23, I’ll be appearing on TopstepTrader’s Squawk Radio broadcast. Plus, I’ll be participating in discussion with their chat community. TopstepTrader is opening the broadcast to the public on Friday - and I hope you’ll join me over there!

Squawk Radio delivers constant market commentary, daily insight from trading experts and weekly educational segments (from people like me.) The chat room gives traders the opportunity to speak and exchange ideas with other traders from all over the world. I’m excited to offer my expertise on the broadcast and excited to have you be a part of it.

Global Reserve Currency USD Overview with Black Swan Capital

Friday, May 23 from 10:45 - 11:45 AM CT
Is the US Dollar Doomed or is a Powerful Dollar Bull Market Ready to Resume?
Live on TopstepTrader’s Squawk Radio
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Jack Crooks

President, Black Swan Capital



Twitter: @bswancap