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British Pound & Gold

November 11, 2024 - Gold in British Pounds: all-time high!


"Fortunes to be made and fortunes to be lost...Of course, those who (as advised) converted their paper Pound holdings into Gold have been saved from a massacre."

£-Gold - note the slight price divergence between the Kitco quote and the Gold/Pound ETF ratio!
[Most Recent Quotes from www.kitco.com] Bullish Objective £ 2280
Resistance £ 1980 ???
Support £ 1920
Bearish Objective £ 1580
Technical Pattern Preparing for a trend acceleration...or a correction?

 

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!
  • Mar 4 - May 10: end of Backtest, OVERSOLD and SCREAMING BUY.
  • Aug 11: Late Sunday night, during thinly traded hours, $4 billion worth of gold was dumped onto the market.
  • Dec. 21 - Feb. 8, 2022: The beginning of a new bull run.
  • Jan. 1, 2023: Expect HIGHER Gold!
  • May 19 - June 18: Going for another "All-time high."
  • Nov. 6 - Dec. 11 - Jan.12, 2024: preparing for a new bull run.
  • Mar. 11 - May 12: Bull run.
  • June 20: preparing for a trend acceleration?
  • July 17 - Aug 1: Breakout!
  • Sep. 8: preparing for a correction?
  • Oct. 11: no correction - expect higher.
  • Nov. 11: Sterling Gold is about to break up its' rising trend channel and accelerate exponentially!?
Long Term Candle
PSGOLD candle2

Special Scale PF-Chart with £2,280 Target


British Pound in US Dollar - Potential Trend reversal of the Pound Sterling versus the US Dollar!

  £/€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
Reversal?

FXB pf1

Short term candle
Chart Comment
 FXB candle1
  • Jan 6 - Feb 8, 2016: BEAR trend resumed
  • Jan 8, 2017: Bullish Wedge maturing?
  • Jan 5 - 16, 2018: The pound has to break 1.38 to reverse the trend.
  • Jan 15 - Nov 9, 2019: Support 200 & 50-day averages.
  • Jan 3, 2020: Positive election outcomes 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
  • Dec. 21 - Apr. 12, 2022: This has become a BEAR TREND!
  • June 25 - July 14 - Aug. 5 - Sep. 9: still a bear trend.
  • Jan. 1 - Apr. 24 - May 19, 2023: Potential Trend reversal after Sell Climax points to a LOWER Dollar.
  • Nov. 6 - Dec. 11—Jan. 12, 2024: The strong reversal versus the Dollar suggests a weaker dollar.
  • Mar. 11: Breakout on Short Candle!?
  • May 12 - June 20: More bottom building and sideward.
  • July 17 - Sep. 8 - Oct. 11: potential trend reversal.
  • Nov. 11: Danger - Trump euphoria.
Long term candle
FXB candle2


Pound Sterling and the euro

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

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...
  • Jan 15 - Feb 8, 2019: Sideward
  • Dec 13 - Jan 3, 2020: A potential breakout vs. the Euro.
  • March 26 - May 10: STRONG SUPPORT & potential Bear Trap.
  • June 3 - Jan 4, 2021: Potential Bullish Trend Reversal vs. the Euro.
  • Jan. 21 - Mar. 12, 2022: Oversold & Sideward!?
  • Oct. 15 - Nov. 24: Sideward
  • Jan. 1 - Apr. 24, 2023: Will the Pound and Euro strengthen versus the Dollar?! - Pound Sterling moves sideward with Euro.
  • May 19: Will the Euro "breakout" versus the Pound?
  • June 18 - Aug 31: Will the Sterling go for the US dollar or the Euro?
  • Oct. 5 - Nov. 24 - Dec. 11 - Jan. 12, 2024: Sideward...
  • Feb. 9 - Mar. 11 - May 12 - June 20: Sideward.
  • July 17: Breakout?
  • Aug. 30: Sideward it remains.
  • Sep. 8 - Oct. 11: Huge bullish head and shoulders pattern in the make.
  • Nov. 11: Trump Euphoria.
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 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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