For quite a while (last several months) we are observing a very alarming observation in correlations EUR/USD, GBP/USD, S&P 500. Usually (last 30 years or so), if EUR/USD down, GBP/USD goes down in "sympathy", too. You should expect some pressure on S&P 500, because of diminishing foreign profits for S&P multinationals. But in the last several months the correlation is : EUR/USD down, S&P 500=> GBP/USD up. Now, "usually" you should expect some sort of profit taking hickup while a trend has established, but GBP/USD shows remarkable strength during S&P 500 weakness. Actually, we don´t give much attention to market rumors that London desks are repatriating their USD funds / profits on a daily basis...No, never ever would our British friendly neighborhood banks engaged in things like repatriation of funds. The British trust in their economy and the GBP like the US trusts in uncle Bernanke and the "toilet paper"....
OP deals out another metric tonne of ignorance and stupidity. Nothing new. That's why I, who know nothin, but came here to learn somethin, cognited that the only way left is by trial and error ON MY OWN. And this op is an ET upper echelon chartist and TA/FA practitioner. If even CNBC's Pisani has known for at least one FULL YEAR that Dow and S&P are strongly correlated with EURJPY (euro/Yen) there is little hope for ET given that ET-ers piss on CNBC. So overall, despite CNBC being the asshole of the universe, it is superior to ET. Anticipating the obvious question and answering it now - can't post there - and taking it further, to rise to greatness for an individual trader its quite alright to learn in a public pubic toilet. Without further ado but not necessarily adieu, Dow and EurJpy are shown together WITHOUT even bothering to color them differently - just to underscore a point in sisterhood. Uploaded with ImageShack.us
Putting another finger in the op's bum to torture his hocus-pocus (or hoci-poci) re: Euro and Sterling aka EUR and GBP, take a match and light it under his ass and watch the stream of H2S ignite - and bonus .... see Lucrum breathe deeply of it. EurGbp charted tells the entire story. No other data is required. All FA analysis and data is thoroughly explained by viewing the monthly/weekly/daily of this pair. ALLLLLLLLL idiosyncrasies voiced by the retarded op are clearly visible at just a few glances of this pair in action. And for the vast number of idiots present here, if you want to fck around with News out of Eurozone re:Gbp, which is reality is examining the droppings, something that doctors do to establish colon health or lack thereof, go to the mouth instead, the incipient aborning problem pre-oesophagus and mesenteric, meaning view EurGbp in Daily mode and watch how she foretells the luminescence and viscosity of the stools cascading out of Eurozone's rectal orifices. What a bunch of fckin idiots.