Disliked{quote} Just playing with the numbers there obviously. but we have finally broken out of the multi year weekly/monthly TL starting from August 2009. this seems very significant to me. I still believe we can get to 1.73 with no Dectaper announcement if we can clear the monthly 200ema.Ignored
there is lot more going on.
Fundamentally ECB wants lower Euro and it will get there and weather Brits like or not it will drag Sterling lower to parity with Euro.
Biggest trading partner to GB is Euro zone so Brits can't afford getting priced out.
With multi currencies pushing lower to compete it makes sense Sterling to join the frey or be left sucking empty air on verge of housing crises or bubble developing there.
We are heading back to 1.55 in my opinion.
In trading, you have to be defensive and aggressive at the same time