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British Pound & Gold

August 5, 2022 - Gold in British Pounds: end of Backtest

"Fortunes to be made and fortunes to be lost...Of course, those who (as advised) converted their paper Pound holdings into Real Sterling or Gold, have (like Iceland people were) been saved of this massacre."

£-Gold - note the slight price divergence between the Kitco quote and the Gold/Pound ETF ratio!
great britain [Most Recent Quotes from www.kitco.com] Bullish Objective £ 2280
Resistance £ 1580
Support £ 1220
Bearish Objective £ 1180
Technical Pattern Fresh bull run

PSGOLD pf1

Short Term Candle
Chart comment
 PSGOLD candle1
  • June 6, 2015: PS-Gold is ready for a new Bull Run
  • Jan 6, 2016: BEAR TRAP = extremely bullish
  • Jan 8 - Feb 4, 2017: Positive backtest and bull run
  • August 10 - Sep 12: bullish it is. Only Britons with GOLD are SAFE.
  • Oct 10 - Jan 5, 2018: only 13% to go for the all-time high
  • Jan 15 - June 8, 2019: we have a positive BREAKOUT
  • Jan 3 - Feb 5, 2020: end of backtesting and beginning of a new bull run.
  • July 5 - Aug 6: Bull run & all-time high.
  • Jan 4, 2021: fresh Bull Run!
  • Feb 5: mind the BULLISH divergence on the candle chart.
  • Mar 4 - May 10: end of Backtest, OVERSOLD and SCREAMING BUY.
  • June 18 - July 11: The long tail is very bullish.
  • Aug 11: Late Sunday night, $4 billion worth of gold was dumped onto the market during thinly traded hours. $4 billion...
  • Sep. 29 - Nov. 4: Strong Buy.
  • Dec. 21 - Feb. 8, 2022: the beginning of a fresh bull run.
  • Mar. 12: £1.580 resistance.
  • Apr. 10: fresh upleg.
  • May 10: Buy Now!
  • June 10 - July 14 - Aug. 5: and enjoy the ride.
Long Term Candle
PSGOLD candle2

Special Scale PF-Chart with £2,280 Target


 [Most Recent Exchange Rate from www.kitco.com] £/€uro £/$
Bullish Objective
€  1.32
$ 1.68
Resistance € 1.18
$ 1.38
Support € 1.04 $ 1.22
Bearish target
na
na
Technical Pattern Bearish/Sideward
Bearish

British Pound in US Dollar - we have a BREXIT...with BoJo's election victory, January 31, 2020, was a big day!


FXB pf1

Short term candle
Chart Comment
 FXB candle1
  • Jan 6 - Feb 8, 2016: BEAR trend resumed
  • June 24: a BREXIT and a STOP LOSS!
  • Jan 8, 2017: Bullish Wedge maturing?
  • Jan 5 - 16, 2018: the Pound has to break 1.38 to reverse the trend.
  • Sep 10 - Oct 9 - Nov 7 - Dec 7: BEARISH it remains.
  • Jan 15 - Nov 9, 2019: support of 200 & 50 day averages.
  • Jan 3, 2020: Positive election outcome and Brexit are planned for this month. However, one should NOT expect a much stronger Sterling.
  • June 3 -Jan 4, 2021: potential Bullish Trend Reversal
  • Feb 5 - Mar 4: BREAKOUT!
  • Apr 8: Backtest??? CAUTION.
  • June 18 - July 11: Spinning bottom = bullish
  • Aug 11 - Sep. 9: Sideward
  • Oct 9 - Nov. 4: Bear Trap results from spiking Oil and Gas Prices.
  • Dec. 21 - Apr. 12, 2022: this has become a BEAR TREND!
  • May 10: Oversold.
  • June 25 - July 14 - Aug. 5: still a bear trend.
Long term candle
FXB candle2


Pound Sterling and the euro

Britain on the Path to Bankruptcy. This is clearly visible on the £ Gold chart. British citizens must be holding on to Gold. Britain's deficit is one of the worst in the World...

eFXB pf1

Short term candle
Chart comment
eFXB candle1
  • Jan 6, 2016: Bearish it still is
  • Nov 21 - Jan 8, 2017: it sure looks like a BEAR TRAP
  • Oct 10 - Jan 3, 2018: or a BEAR TRAP?
  • Aug 7: lower it will go...
  • Oct 9 - Dec 7: The Pound Sterling could be bottoming out...!!!
  • Jan 15 - Feb 8, 2019: Sideward
  • Dec 13 - Jan 3, 2020: a  potential breakout vs. the Euro
  • Feb 5 - March 10: Oversold and Sideward.
  • March 26 - May 10: STRONG SUPPORT & potential Bear Trap.
  • June 3 - Jan 4, 2021: potential Bullish Trend Reversal vs. the Euro.
  • Feb 5 - Mar 4: BREAKOUT!
  • Apr 8 - Nov. 4: Overbought (= expect lower) and sideward.
  • Dec. 21: this may become a BEAR trend.
  • Jan. 21 - Mar. 12, 2022: Oversold & Sideward!?
  • Apr. 12: Sterling is also turning 'Bearish' versus the Euro.
  • May 10: or shall we see more SIDEWARD action?
  • June 25 - July 14 - Aug. 5: Sideward.
Long term candle
eFXB candle2

The subsidy of Agricultural products was not allowed at the time of the EEC...

Britain will at some point default on its debts to foreigners (as it has done at least twice before); this is INEVITABLE because ALL countries eventually DEFAULT on their debts; it is only a question of when, i.e., in the next few years or delay bankruptcy for many decades and therefore results in the relative risks of default which the market prices. INFLATION is a symptom of the trend towards bankruptcy as it is a measure of the continuous COMPOUNDING loss of purchasing power of the currency. The best that governments such as Britain have achieved is the slow stealth trend towards bankruptcy, where people don't realize the loss of purchasing and wage-earning power over time. However, with government debt heading towards 100% of GDP, Britain looks set to leave the stealth trend towards bankruptcy behind and about to accelerate a few notches higher which risks igniting a wage-price spiral that ultimately ends in a hyperinflationary bust.


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