US ($) Currency Thread 1 (closed - use thread 2)

glenandemm

would the report from the imf thats on the news affect the pound?

inspector_monkfish

glenandemm wrote: »

would the report from the imf thats on the news affect the pound?

Yes.

When that came out at around 3pm ish, the gbp/usd rate fell to 1.4240

a positive sign is that it managed to rally back up to 1.4345, and is noe hovering around 1.4310 level

consultant31

izzybusy23 wrote: »

How do Crown and TMS work... where do they get their money from? I've secured £1600 worth of $ at $1.56 to the pound for delivery on 6th June ... but I am getting the jitters.

Thanks

Mmm, me too. I sank £1000 with Crown for delivery of dollars in March and now I can't sleep for worrying! Feeling at bit like FEvans - is it worth any (possible) gains when balanced against the worry?

inspector_monkfish

looks like we have a downward trend for GBP this morning, after positive signs from the US last night after the FOMC meeting

currently trading around 1.41, it needs to avoid going through 1.4040
if it goes through that level , it'll probably continue downward and possibly past 1.40....

if it does somehow make an upward turnaround, 1.4170 is the key support level to breakthrough

Nationwide House price index was just published, and although not pretty, was not quite as bad as some were predicting ( only down 1.3% for the month, prediction was 1.7%)

have a nice day now

inspector_monkfish

inspector_monkfish wrote: »

looks like we have a downward trend for GBP this morning, after positive signs from the US last night after the FOMC meeting

currently trading around 1.41, it needs to avoid going through 1.4040
if it goes through that level , it'll probably continue downward and possibly past 1.40....

if it does somehow make an upward turnaround, 1.4170 is the key support level to breakthrough

Nationwide House price index was just published, and although not pretty, was not quite as bad as some were predicting ( only down 1.3% for the month, prediction was 1.7%)

have a nice day now

well surprisingly, we have smashed through the upside support level of 1.4170

now trading around 1.4190

next level to look for is 1.4200


this is really promising, as it shows that even though GBP has had alot of bad news thrown at it in the last 24hrs, it is still managing to fight back....

whatusername

Here's hoping it keeps going. We need a strong pound

inspector_monkfish

very encouraging indeed
next level to look for is 1.4225

also GBP is gaining against EUR, up to 1.0885

been some shocking announcements this morning regarding German unemployment and Spanish housing, and more threats to slash EUR base rate.

which all backs up my theory, that everyone should stop picking in UK, and have al look at the state of their own countries !!

neilbond007

inspector_monkfish wrote: »

very encouraging indeed
next level to look for is 1.4225

also GBP is gaining against EUR, up to 1.0885

been some shocking announcements this morning regarding German unemployment and Spanish housing, and more threats to slash EUR base rate.

which all backs up my theory, that everyone should stop picking in UK, and have al look at the state of their own countries !!

1.4225 - done. *he says clapping his hands gordon ramsey style*
onwards and upwards!

inspector_monkfish

neilbond007 wrote: »

1.4225 - done. *he says clapping his hands gordon ramsey style*
onwards and upwards!

this is very impressive

talk now is of retesting yesterdays high of 1.4370...
still along way to go though
but the talk is, that if it successfully retests that level, we could see a breakout up to 1.4570, then 1.4980 and 1.5120

but it has to maintain its level above 1.4225 for a while first

whatusername

Interesting stuff, it will be interesting to see what happens on day 2 of the World Economic forum as a lot of noises are getting made elsewhere also