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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3054
Posted: Feb 22, 2010 5:00
Comments: 3054
Forum Topic:
GBP
Discuss GBP
aSHRAF
http://www.zerohedge.com/article/some-afternoon-amusement-courtesy-rbs
I noticed this little snippet:
"Lest we forget, a recent back of the envelope analysis indicates that the UK (which incidentally is a 70.33% holder of RBS) has quarter of a trillion pounds exposure to the PIIGS, of which no matter how you spin it, Greece will be the first domino.".
So the unfolding crisis in Euroland, even though it has taken a back seat in the last few days, poses further risk not just to the Euro, but probably to Sterling as well (to add to Sterling's other problems).
So that represents probably more weight to your argument @Spec.
Is that 1.52 on technical grounds? Trendlines? Other?
Thank you.
the fact that sterling has not made any sustained new lows since about one week ago could lead to further selling going forward. But this 1.5390 level is stubborn and needs to be broken nicely for another huge leg down.
How are you.... By looking at the market, it seems Risk Aversion is back.... Do u think it is a good time to go short GBP/USD at 1.5440 with a take profit of 1.5380..... Or we shld wait for it to reach 1.55 and then go short on this pair.... Want to check with u....
Thks,
AVG