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  • Pound to US Dollar Rate Going Below Parity Before Year-end says Nomura

    From poundsterlinglive.com

    The Pound to Dollar exchange rate is set to fall below 1.0 before the end of the year, according to new research. Nomura - the Japan-based international investment bank - says it is looking for the 2022 sell-off in the Pound to continue as the UK is in the grip of a fundamental balance of payments crisis. "This is a fundamental balance of payments crisis, with politicians hoping it will eventually just calm down. Hope is not a strategy," says Jordan Rochester, strategist at Nomura. He assigns a break below 1.0 as having a 4 in 5 chance. These high odds come on an historic day for the Pound in which it fell to its ... (full story)

Funny how these predictions always a market lagging.
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Having seem the reaction of western country on Friday after UK's tax decision, Asian financial institutions overreacted with panic selling which resulted in a temporary plunge to 1.035. However, you can see that the buyers entered in the market taking this an opportunity to go long, and the magnitude of long traders keep increasing gradually making the pair go above Monday open erasing all the loss of the day. Conclusion: more buyers will enter market as GBP/USD will keep sliding upward gradually like it today and we will have seen 1.16-1.17 already before the next BOE meeting.
£/$ did not go below 1.00 just yet.....

https://youtu.be/TD2Niae26Ow
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
GbpUsd gunning for me 1.50.
It won’t happen over night of course but smarter Traders know we are in a new Bullish Trend.
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  • Posted: Sep 26, 2022 11:41am
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 4  /  Views: 3,050