US ($) Currency Thread 2

scottishminnie

Looks like it's on the way back up - will it reach the dizzy heights of $1.60 - who has the big crystal ball???

sabretoothtigger

I'll stick with 1.61 as a positive target, nothing dramatic. We dropped 10 cents since Sept so I guess prices would reflect that though its recovered some now

Vice versa 1.564

It hit this area twice before turning positive so thats a good reversal, its fair to hope it can continue. Euro pulled back a fair bit today but we stayed steady

jackieblack

A little progress this week
The last time we were at 1.60 was when? November?

sabretoothtigger

yea true. It was Friday that has pushed us over the top there really.
1.5966 is a good step on the ladder if we can hold that footing 1.61 is the target then see how we react there etc

sabretoothtigger

Meant to say on weekend, Cable probably peaking round here. Be pessimistic I think is best for now

See how it reacts next few days for longer term


Target on the downside is
1.586
1.58
1.573
Upside 1.625 to beat for bigger gains

Holding steady at 1.61 I count as very good performance. To climb this far and not sell off would count for alot in sterling's favour

sabretoothtigger

Hit that upside target, nice end to the week. RBS says QE is over now and rates may rise even

When rates rise it will be very rapid I think.

A fallback here is natural after rising so long. Again being neutral is very positive, anything but down now is surprising strength

John_Kicklighter wrote:

Cable is committed. The last time we have seen a 10-day advance from $GBPUSD was 6/16/1992. Then 11/5/87. No 11-day runs in last 30 years.

Sounds pretty special

Bojangles_3

Is £ likely to recover today/over next few days - that is the question?
(Looks like no end of bad news on Euro!)

(Just worked out that £500 buys me £25 less $ than it would have done if I'd bought them at the start of the week)

i could just hold off until I get to US next Thursday at use my new Halifax Clarity card. But, is there more bad news on the horizon..?

Bo

Bojangles_3

thanks for posting guys...

jen_br

Yeah its a hard one to predict... however I feel there are a lot of positive events going on right now in the uK but election proaganda in the USA all that can make a difference.

sabretoothtigger

Its broken its previous good health. Target 1.57 and 1.56 and it needs to stabilise, reestablish itself and so on. Doesnt usually bounce right back but never can be sure


The greece election is a months time. Where News takes Cable is variable but some may say QE is back on the table as europe melts

Sterling Index At 1500 GMT
 
      (JAN 2005=100)     INDEX      GBP/USD     EUR/GBP 
     PREVIOUS CLOSE      83.7       1.5812      0.8036 
               OPEN      83.7       1.5764      0.8030 
              10 AM      83.7       1.5789      0.8036 
               NOON      83.6       1.5789      0.8038 
               2 PM      83.7       1.5818      0.8035 
               4 PM      83.6       1.5806      0.8049 
 
Contact London Newsroom, Dow Jones Newswires; +44-20-7842-9376

(END) Dow Jones Newswires

May 18, 2012 11:01 ET (15:01 GMT)