GBP

Been browsing around Zerohedge again. In this article:
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.

@Spec: 1.52 by March 1 is pretty ambitious. Still perhaps no more so than Ashraf's target of 1.32 for Euro, which looked ambitious not so long ago, as did 1.34, and we've been almost within easy jumping distance of 1.34 already, so ...

Is that 1.52 on technical grounds? Trendlines? Other?
Thank you.

Hi Ashraf,
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

looks like we're heading to break major support at around 1.5390ish over the next 24 hours