Alright Traders, I'm going to give you a run down on what I see for the GBP/USD in advance of tonight's Australian, Asian and European sessions and with consideration for what tomorrow morning's Claimant Count Change numbers could bring.
This is a very interesting analyst. There is no doubt that the market is driven by news and moves within the boundaries set by tecnicals. Irrespective of the downside potential, I reman convinced yjay the fundementals remain to the long side. I accept that there will be some downside movement as the eletion draws closer. The market never likes uncertainlty and there will be plenty of that. However following the election irrespective of the winer or no winner at all, the movement will be to the long side. The reason for that is the UK is a very good place to do business. There is excellent infrastructure - good roads, railways are getting very good now, logistics some of the very best in the world, and most important of all little 'red tape' holding back those wanting to do business. Ths all boads well for the long side. The Treasury have been saying the economy will grow significantly for a while and Earnest & Young started saying it yesterday. I am convinced that it will happen and Sterling will go to the long side.