Dislikedgood for u! I always looking into my chart and the trend with doubt, but the fact is riding the trend---to make money. writing fantasy can make people a living, if they are analyst or J.K rowling.
IMO, things are changing, trend will reverse only when unexpected-bad news come out. any good surprise only enhance bull ride. they are a lot of factors should taking into account for GBP. 1.UK economy is very similar to US 2.Northern rock fact. 3 UK currency only supported by UK, EUR is supported by a region(many say EUR is a joke, and it still is!) 3.European bank also have GBP in their holding, but the truth is,,ECB is trying replace USD with EUR as a major currency. current situation for GBP is very similar to what happened in 1990s----those bank think GBP is overvalued.
4. Carry trades flooding out in last 9 months from UK. however, signs showing they are coming back.
I personally really dont eurozone economy is any much better than UK. However, as it said before, Eurozone is still a joke. e.g. they dont have a total summary data for their housing fact! thereofore, some bad news arent disclosed. from what i heared, Spain already have problem in property market.
anyways, just shut me up.
good luck everyoneIgnored
this red trendline seems to be holding and rather well ..if yur short have a look at this ..