GBP

why are traders selling GBP ? fundamentally GBP has released good data recently. aren't we trade with the trend ?

my target for gbp/usd is 1.60 if it breaks above 1.575.

I think the UK economy has similarities to the US economy except that the US could become self sufficient in energy production, even a net exporter which could make a tremendous difference to their long term outlook if they can indeed survive the shorter term-- which I very much doubt.

Both countries are basket cases with their burden of debt which is well beyond the point of return. Neither political establishments can control debt, yet alone radically reduce. Therefore the macro position is utterly hopeless, we shall both implode at some point in time. And let's not even mention euroland problems.

Short term eco stats showing minimal growth in the context of the macro position are laughable. Something big has to happen or we are toast.

Dunno cat---October snap election ? :-) The labour party are now on the back foot on virtually every issue !!! And their leader is a jerk of some extraordinary magnitude.

Cameron is holidaying just 6 miles from me. I will try to bump into him on the surf beach.

just a little bit lower than upward trend line support.

90 pips from top, or 40 pips from open didnt convince me.

AL even have a call entry much lower than now.