GBP/USD Daily Video, 11 September, 2015

[Sive Morten]

Good morning,

Today will be the moment of truth on GBP and we will finalize our B&B journey in one way or another:



The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.

 

[Dave Hanson]

Sive, you've talked a number of times recently about USD/CAD having major resistance at the 1.34 area. I thought the NFP might get it there but it wasn't strong enough. Then I thought next week's Fed announcement re the Fed Funds rate (Sept. 17) might do the trick (although I'm positive the Fed won't raise the rate, so that won't do it). The catalyst that I think will do it is OIL PRICES. They're tanking today (Fri. Sept. 11) and in tandem the loonie is tanking, since it is so closely associated with crude oil by traders. Hence while it has taken considerable time, I believe your target will be met. Good work (again), Sive. USD topping at 1.3405-25 means buying the loonie at the 74.50-60 area.