Cable is just under heavy pressure brought by Northern Rock. Like the bank's name, its sinking like a rock vs JPY, USD, EUR.
I believe this is temporary. Once this Northern rock hits bottom, GBPUSD will soar again.
Also pulling it down is the JPY carry unwinding.
Wait for the lull and go long cable. USD is just very "unattractive" for more than 18 months. Unless we see a great US housing recovery , USD will continue to slide down.
I believe this is temporary. Once this Northern rock hits bottom, GBPUSD will soar again.
Also pulling it down is the JPY carry unwinding.
Wait for the lull and go long cable. USD is just very "unattractive" for more than 18 months. Unless we see a great US housing recovery , USD will continue to slide down.