GBP

the gbp gives up some fast pips as well gonna have a look @ it for a possib short but only if we try to test 16700:)..gl guys but will also look to get long on more of a dip to 1.66-20 level...could be stuk in a range for the next week:)

@jacek, taking the datum point at 5510 low which I labelled W.2 or B my entry was 5670 and a choppy ride it be from there up. My target was 6540/50 127% ext ret level by which time had already removed 2 units so covered 3rd unit there. Then wait out the ret and re-enter 6580. My stop now sitting at b/e waiting to be trailed as we make new pivots. I think your support entry level is logical. If price return to my entry level I shall get flat and see what happens next. gl.

Hi Dave, I'll go for a ride.. I'm looking to re-enter.. what's your stop?

Although UK GDP broadly flat over the 6 month period manufacturing growth has been encouraging, very difficult to just turn on the tap again after the Thatcher bulldozers were sent in to crush the power of the unions in early 80's. Her answer to union power was to crush uk manufacturing---a greengrocer mentality one might think, yes her family were greengrocers. "City of London would be our golden egg", said she ---hahaha, spinning money around in circles does nothing whatsoever for mankind. Service industry is largely a parasite.

Once the austerity cuts to the public sector parasite start to kick in and bite I see a period of negative growth lasting about 3 years or more. We shall see the occasional blip on the radar but the path will be downward until the private sector can start to soak up unemployment and spare capacity. The major downside risk is the banks who no longer serve the community so investment in small companies who are the key to any recovery will be almost non existent. In addition there is still the threat of another bank crisis and there is risk of anarchy in opposition to the very necessary planned austerity measures.

Yes I bank with HSBC and gave my local manager a freebie lesson a few days ago. Warned him that was the last freebie going forward.