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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
What about my bullish GBP call vs EUR and CHF?
These are relative calls, based on combination of weakness in CHF and EUR and strength in GBP against those 2 currencies). GBPCHF has turned sour and the final support seen standing at 1.4745 trendline.
As for EURGBP, i continue to remain BEARISH as long as we do NOT take out the 0.88 high, which is a conservative approach to the Nov high (0.89).
Ashraf
The LAST TIME CABLE fell by more than 300 was on May 13. THE TIME BEFORE THAT was on May 6 (Election Day & FLASH CRASH DAY). Ive already mentioned yesterday that the last time the Dow had 8 consec weekly gains was right before the week of the Flash crash. So you can make your own conclusions. Rarely has GBPUSD fallen by more than 250 pips in one day without following up w/ further losses in subsequent days. With Mervyn King speaking later today at 19:40 GMT, he could cause further losses in GBP as he reiterates his case against interest rates hikes, which many have begun calling for following the 3.7% CPI seen 2 weeks ago.
BOTTOM LINE: GBPUSD seen extending losses towards the 1.5720 (55-day MA), with next key target standing at $1.5660 (100-WEEK MA). Subsequent target is the major trendline support at $1.5570.80.
i will be on ARABIYA TV today at 12:40 GMT; 16:40 Dubai Time.
Ashraf
Hope this 2-3yr term perspective will reward me big time...
I can't help being concerned about the GDP release this week though......expecting some volatility?
there used to be a guy in geneve route cornavin that used to tell me
hey mister its me " no name ashrafclique" i want to make u earn money
suddenly no more smes no more phone call from geneva; all i can say i wish good luck and to find something in SD in japan the best training school
where did u hear about atofagsta close to the embassy district in london
entertain ur sources.