GBP/USD: 1-hour

Anyone interested in a trend play on GBP/USD? I know I am! With the dollar weakening over the past couple of weeks, the pair has been able to form a pretty sweet uptrend. Right now, it seems like the only thing standing in the way of it retesting its former high is the 1.5900 handle. If pound bulls can manage to cross this line, they may just coast back up to 1.6000.

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In my last blog post I told you about 3 strategies that are included in the upcoming Forex Profit Multiplier course that generated more than 2000 pips profit in the first few months of 2012. Well Bill Poulos has just put a new video online which shows you how these same strategies have performed in recent weeks.

If you want to buy Forex Profit Multiplier, I understand that it goes on sale on Monday. However if you have left your details prior to watching the training videos, you will soon be able to enter a free competition where you can win a free copy of this product.

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The Euro suffered again overnight as reports in various papers talking up the possibility of Greece badly missing their deficit targets. The news has caused another shift out of the Euro as investors have looked for safer places to invest their funds. The articles, if proven true, will add yet more pressure onto the rest of Europe with major doubts already surrounding the success of the latest bailout for Greece worsening.

However, unlike when Greece was still seeking this bailout, the US Dollar hasn’t been the sole beneficiary. S

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We havent heard much about the Baltic Dry Index  recently, but since peaking in mid-October, it has absolutely collapsed.  From Investopedia.com, the BDI measures changes in the cost to transport raw materials such as metals, grains and fossil fuels by sea.  The Baltic Exchange directly contacts shipping brokers to assess price levels for a given route, product to transport and time to delivery.

As shown below, the Baltic Dry Index has fallen 43% in the last month alone and 49% over the last three months.