Central bankers usually worry about when to remove the punch bowl of cheap finance but when they gather in Washington, D.C. this week they will face a different problem: how to force the world to drink.
World stocks rose to their highest level in more than four months on Thursday and the dollar chalked up a third day of gains as markets took a positive view ahead of top policymaker and oil producer meetings.
The pound/U.S. dollar (GBP/USD) currency pair has been trading sideways since the start of March and shows three waves in each leg, so it looks like that pair is trapped in a triangle formation, making black wave IV.
The International Monetary Fund cut its global growth forecast for the fourth time in the past year on Tuesday, citing China's slowdown, persistently low crude oil prices and chronic weakness in advanced economies.