GBP

Intact for 2years but with local elections tomorrow the liberals will get a real kicking and nasty premonitions of what could happen at the next general election if they fight as a separate party ???Mix in euro troubles,china troubles,and a dollar strong across the board,already sterling tested 1.6150 this morning,but the bounce off that is weak,think it could break before the weekend and test the 1.6 figure next week.

Seeing sterling as moving towards overbought against USd with political headwinds in next weeks local elections,think its the liberals that are really going to get a kicking and of course the conservatives on the return to technical recession.The spectre may soon start to loom of the next government being a triple or possibly multiple coalition with no party having a workable majority???Looking to short any rally to 1.6300 this week and if it fails there I will double up looking for break below 1.6150 and beyond ???

...Stirling still the poster child against usd and eur...'don't see why eurgbp can't push lower to 78-79 area...

agree, jacek 6500-50 looks like the near term ceiling although wouldn't put it past this pair to pullback to 6100 this week before push higher...

the fact that the country's econ data has been in the toilet yet the ccy is pressing higher suggests risk aversion/repat' flows, from EZ in particular...'sure the olympics saga is worth a few pips too DaveO ;)...

...hopefully the news events later in the week ECB rate decision, EZ PPI, EZ Retail sales, US nfp's etc catalyse a move out of these broad ranges...

resistance line at 1.6300 was penetrated but not trough yet, me think it will hit 1.6600 as bullish momentum still at play :)
im curious to know when it get there if only i could measure the time through chart!

On GU we have a trend resist line comin in at c.6310, drawn from the 6745 high through the 6617 high. If it clears that its into possible garters failing to hold up at 100% symmetry level 6360, I mean gartley pattern formed from the 5233 low. For me those are the more immediate high jumps to clear. Below 5800 or even below 6050 level would alert the bear.