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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3054
Posted: Feb 22, 2010 5:00
Comments: 3054
Forum Topic:
GBP
Discuss GBP
Pulled between good data (positive GDP, construction, inflation data and retail sales surprises) and dovish rate expectations.
Consumer consumption may be stronger than expected due
Continued inflation adds inflationary pressure for a rate increase coming soon.
While tied to Europe trade the GBP less likely to suffer from EU travails than the EUR or CHF
Policy makers believe slack in economy will keep inflation in check despite better growth, and inflation remaining over the maximum target 3% for the past 5 months.
GBPUSD nearing strong resistance at 1.5600 zone, which has resistance points of its 61.8% Fibonacci level at 1.5611, its 50 day SMA immediately above.
taca productions
those stocks holding #euro longs starting to hedge via shorting EURGBP. 0.8330 was done. Next week to see 0.8260s for next week
Ashraf
http://img831.imageshack.us/img831/43/image68.png
http://img840.imageshack.us/img840/7700/image66.png
Meanwhile, Catnip has timed his short pretty well. +~60 pips at time of writing.
what do you think guyz