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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3044
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Discuss GBP
Posted Anonymously
10 years ago
Feb 27, 2010 16:42
jim rogers is a trickster i would not believe a word of what he says. he seems like an awful market timer and what he claims he does probably is not all true either.

having said that, i expect cable to weaken until q2 UK gdp is published. a combined us/uk double dip will hit cable along with a uk only double dip. both seem highly likely which could put extreme pressure on the pound in 2010.
Singapore, Singapore
Posts: 179
10 years ago
Feb 27, 2010 10:42
@Qiman, nice post. I also keep track of Jim Roger's talks and we hear more of him now that he's moved to Singapore. His views/comments about the GBP is his standard speech. It's the same story any day in the year, any year. He's also had similar story on the US dollar, except he's been buying US dollar later part of last year. Jim's also been a Gold bull, but he's been quiet on Gold in recent months - maybe I missed of any recent talk on Gold. I am guessing that Jim's timing could coincide with Ashraf's 1020 call, as smart people like Ashraf and Jim probably could wait for Gold to come down to 1000 level before renewed interest in adding more (physical) Gold.
United States
Posts: 237
10 years ago
Feb 26, 2010 23:35
Jim Rogers has some very strong comments on the Pound:

"Other currencies aren't strong and the Euro has real problems, with cracks much wider than Greece beginning to show," Rogers continues, "but it's the Pound that's most vulnerable. In real terms, it's already devalued against virtually every currency barring the Zimbabwean dollar and it's especially exposed over the weeks running up to the UK election. In a basket of currencies, the Pound is potentially a basket case. And that will put Britain in an extremely bad position for the shakedown."
Posted Anonymously
10 years ago
Feb 26, 2010 19:48
euro more viable short that gbp as last weeks "flee" from gbp in the eur/gbp pair will be reversed next week. Therefore, eur/gbp will be offered to the worlf to knock down euro. GBP will outperform euro next week.
Abingdon, UK
Posts: 610
10 years ago
Feb 26, 2010 18:47
Personally I'm now flat GBP/USD for the weekend. We'll see what bounces we get after the open, and in Europe/NY sessions. Cable has been quite good to me today and this week. I'm not going to push it.

Toronto, Canada
Posts: 8
10 years ago
Feb 26, 2010 18:03
lon, UK
Posts: 22
10 years ago
Feb 26, 2010 16:10
Took long on cable.Anybody any idea where next short area to dump it
Posted Anonymously
10 years ago
Feb 26, 2010 11:55
Thks friends, I cut loss my ong position.... I m waitng for the US data now.....
Abingdon, UK
Posts: 610
10 years ago
Feb 26, 2010 11:49
Ashraf said a long time ago that GBP was going to be the whipping boy for 2010 (like USD was for 2009), and so far, this is proving correct. Don't forget the mounting political uncertainty leading up to the election, Gordon Brown facing embarrassing revelations in a new book by Andrew Rawnsley (in the Observer, and also written up in the Guardian); not just his temper, but questions about whether he is really up to the job. Add to that Mervyn the Magician who only has to speak to send cable down.
Plus as mentioned before UK banks' involvement in the Greek tragedy, probably to play out further in the future. Against all that, a few data numbers are almost just noise by comparison.
Not that I can see any good numbers coming on the near horizon.
Beijing, China
Posted Anonymously
10 years ago
Feb 26, 2010 11:35
The UK data is not a shitty as everyone is making out. But turns don't come on a dime. Anyway there is a whole slew of US data to come tonight.