GBP

@catnip...
I saw ur contributions to eurGBP, so u had to see this trendline, best seen on D1 timeframe, which could perfectly be treated like strong support..

Dont u expect any reversal in this pair?
Because I think that the whole bunch of traders over the globe has to have it drawn, and maybe BUY LIMIT orders allready set...

any obstacles that would negate it???

newswire

Telegraph: The Conservatives are on course for a convincing election victory after a new poll for Telegraph showed the party is leading Labour by 12pts in crucial marginal constituencies. On the eve of first ever leaders' television debate, the most comprehensive survey of swing seats since the campaign began showed David Cameron comfortably ahead. 43% of voters questioned said they would vote Conservative, 31% Labour and 20 Lib Dem. On FX, speculation of options barriers at 1.5500 handle, but talks Asian sovereign have been good buyers, bids 1.5400, stops above.

and yes, there was some modest buying in Asia

Well you could in a way say that by now all the uncertainty regarding the election has already been "priced in" (whatever that really means) by the market.

However, there is genuine disagreement between the two major parties over what to do about the deficit. The Conservatives are seen as hawkish deficit cutters and spending cutters. The ("New") Labour party are seen as spendthrift deficit spenders. Whichever side wins (if there is a decisive win) is going to have serious difficulties one way or another. If there is a hung parliament (unlikely, but possible) then that is another level of uncertainty, since we haven't had one of those for over thirty years and no one is quite sure how it would play out. I'm guessing that the pound could get quite volatile over the next few weeks, or if not then in the weeks following the election.

ptaczek, i share your sentiments. trust me....i have REALLY ugly shorts on gbp/usd. even im unsure of what is going on, i still feel the greece aid is a joke and so is the whole supposed recovery. there are still way too many underlying fundamental issues that everyone is downplaying. I have no idea what is going on....I asked ashraf about 2/3 hours ago and he says his target for gbp/usd for 1.48 is intact...so confused....

Guys wake up the US is not going to hike interest rates. Why should it ? Cable 140 by end of April. Oh really, seems its heading to 155 to me or maybe im in dream land.