DislikedCan anyone explain this "comeback" of the pound?
I don't find any logical reason for it to leap high above 1.48...Ignored
there are several really good reasons..even if its reports are poor
- USD is not showing well...poor reports on the dollar today
- The pound is over sold and seen as undervalued even with all the trouble that country has
- Its held the bottom support very well..could not break the 4500 level...and with the above conditions... upward it goes
- Now with report coming thursday..it will dampen the spirits..but not as much as we may think...I hope it drops to 45 range...and then starts its climb toward testing 5500'ish levels and above...
- Do not put too much stock in the rate cut...it may be seen as the boost the UK needed to continue its economic corrective measures.
I will try and not have any orders open during the report
I can not see the Euro and GBP in parity for a long time if it even occurs.