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March 28, 2018 | GBP/USD – A Choppy Triangle Pattern Setup?

Jack has over 20 years experience in the currency, equity, and futures arena. He is an investment advisor who has held key positions in brokerage, money management, trading, and research. Jack is founder and president of Black Swan Capital LLC. He was also founder of Ross International Asset Management (specializing in global stock, bond, and currency asset management for retail clients) and General Manager of Plexus Trading (specializing in currency futures and commodities trading).

Price action (choppiness) suggests maybe the dollar bottom may be delayed.  We say that as we expect a major bottom in the buck soon; then a counter trend really of multi-month variety to wrong-foot the dollar bears.  A triangle pattern as shown below, would keep the market guessing before a final thrust lower in the dollar.  We are seeing this near-term pattern in some key currencies—notably the euro and pound.  Below is a look at a triangle pattern setup for the pound.

032818 gbp 240.png

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March 28th, 2018

Posted In: Black Swan Currency Currents

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