July is the second-best month for the pound
Back in April, I raved about the 9-year winning streak for the pound in April and it went on to make it a 10-year streak. July isn't quite as good but it's intriguing.
Over the past 30 years and since 2005, July is the second-best month for the pound, averaging around a 1% gain.
Yesterday started off dismally with a sharp decline and that continued to 1.5550 today but that marks the 50% retracement of the June rally. It's a level both me and Greg highlighted yesterday. Given the upbeat seasonals, it could be the launchpad for another month of the perky pound.
But beware of hanging on for too long; the August-December period is a rough time for GBP/USD.
