Monday, January 24, 2011

Pound for Pound Channel

Bank of England (BOE) stating that in order to preserve credibility, they must raise rates or inflation that is already baked in the cake will get worse.  

On the other hand, the GBP /JPY currency pair is a near perfect channel (PRS style that is), saying that pair goes down now.   

Conflicting information for sure.   I took it short.

Other trade idea: FEED long, based on trendline support and Funnymentals

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Insightful and Useful Comment!