My tuppence worth on cable - the major banks have come out with better than expected results, and yesterday the stock market pundits said the market had over-reacted to the credit crunch and speculated that northern rock was the only bank to be caught up on the sub-prime fiasco. Today there is a rumour that another bank has approached the bank of england, which negates yesterday's confidence in the £. Whether the rumour is true or not who knows.Ignored
Dislikedpreffer to go up nAV...
technically, H4 MA still pointing up....
omg... news has revised...Ignored
Dislikedhow much time must we wait?Ignored
DislikedBased on the fact that the dollar has actually gained despite fairly negative news, I believe it is more likely the pound will continue down. Even if Bernanke's speech and housing data are negative towards the dollar, I believe the dollar will gain on the pound today because previous negative news didn't lead to a rally. Everyone in the US is bearish the dollar so negative news won't move the market much. However positive news could lead to a large gain for the dollar.
Also consider Great Britain just had its biggest earthquake in 15 years, protesters were able to break into Parliament over expanding an airport, and their are rumors about more problems with British banks. None of this is good news for the pound.
Also, the pound/dollar peaked at a previous high which coincidentally is the 1.618 extension of the last decline.
There is always the possibility the pound/dollar could rise, but I think the it is more likely the pound will go down. I also believe the downside move could be much larger than an upside move.Ignored
DislikedHey bro dont listen to anyone's call, i remember yesterday you were posting that you lost some significant amount of money so just see on your chart and think what they are saying and then long or short. thanksIgnored
Dislikedlessy lessy lessy ...4hr chart got a bearish engulfing pattern right on a resistance line, daily got a inverted hammer ..its going down bro
just a view between friends...Ignored