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This thread was started in response to the Analytic:
GBP Trade Index 18-Year Chart
Daily GBP (British Pound) chart of 18 years of cyclical developments in finance & politics
As Ashraft states, and I completely agree, trading cable is very, very difficult on one's patience.
I'm looking at the daily sto' and they are pointing big time for the Eur/Gbp and might break below the chart that forextrader presented. Based on what you say - Cable should be going higher. What do you think. ta
there are a hell of a lot more savers than mortgages holders, and broon will want to keep them
sweet, as they are getting zero interest at the moment. If opinions polls remain the same
conservatives 43 v labour30 the cons will get in with a working majority. Of course labour will
be pulling out all the stops, making all the right noises, in otherwise they will lie through their teeth,
however, l dont think that the british electorate will be conned twice. lf opinion remain the same or
improve, you will see sterling gradually strengthen up to election, after that who knows!
Euro/GBP has been in 250 pip range since early November as you see the channel is getting narrower, a break down side this channel will take the GBP/USD 1.68 a break above this channel than 1.57
In channel now headed for 16330.
I am waiting for a break of either 16310 (upside) or 16260 (downside) to enter a position. I see it going long at the start of the US session. Looks like it could be range bound until news breaks in US session. I took 2 different positions at 16275 and rode them up to 16300 for a quick 25 pips but takes forever.
good luck all
I would not recommend doing anything on the EURO till the ECB rate decision / press conference a few hours from now.
vik
Is Eur/Usd good to short and if it was to be manipulated how high could it go. thanks