Will the pound ever recover against the Euro.

sabretoothtigger

If the pound were to strengthen significantly against the euro from here it would be breaking a 3 year old trend.

It could happen but its more likely that whats been true in the past will continue and we know that long term the Euro has risen against the pound since it was introduced pretty much.

One of Browns arguements for selling gold was he bought euros with it and has hedged European spending. Gold rose more because both currencies are weak but of the two I would expect Euros to do better from here on.

It should be more obvious in the next couple of weeks I think because a game changer usually means large sharp movements


Its a bit of a clash of titans situation I think, we have the momentum of euros long term rise clashing with the pounds strength since xmas 2008



http://chart.ly/symbol/EURGBP


http://www.stocks-n-options.com/symmetrical_triangle.html

One of those charts goes back to 1992 which might be the right perspective for something long term like a house

lvader

Up until recently the Euro had never been challenged as a currency, there was even talk about using the Euro as the main currency for setting oil prices. All that has changed, now the talk is that the Euro will become extinct!

de1amo

it seems the currency i am 'in' is getting even stronger against the pound--the last 24hours has seen the exchange rate at its 'worse'--seems this fall is endless!
İ dont know what french house prices have done recently but i know the spanish properties have dropped like stones--thus negating some of the euros strength-you get lots more for your euro now!!
Gold is always a good haven in troubled times and if inflation kicks in it will boom again!--i sadly sold all my gold and it went up 10pc within a month and it has settled there now--i did make 50pc return in a year!

lvader

lvader wrote: »

The pound has been doing quite well against the Euro in the last month or so, I think we might see 1.20 in the next 6 months.

Even a novice like me can make a prediction and it come true.:rotfl:

vivatifosi

lvader wrote: »

Even a novice like me can make a prediction and it come true.:rotfl:

Ivader you are indeed a currency prophet. Now can you please tell me when I can go on holiday to the USA?

lvader

The US$ all depends on the stock markets, currently the US$ is artificially high because all the money that has gone into US government bonds. If we have entered a bear market then you can forget the pound getting stronger against the US$, more likely though we are still in a bull market which should see the US$ weaken. $1.60 to the £ should be possible this year.

lvader

Nearly there $1.60 not far off now.

Entertainer

lvader wrote: »

Nearly there $1.60 not far off now.

Keep it coming Nostradamus.:T