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

dealsearcher

So if the markets have already priced in a 0.5% drop in the BOE interest rate does that mean the markets consider the pound already over sold? What if the BOE do not in fact reduce their interest rate tomorrow? 1.5? 1.6? Maybe the fact that real interest rates will not come down for most people the markets can still get reasonable value on their sterling?

neilbond007

well on dailyfx this is the little bit they've wrote about the £/$ rate...

5 waves up from suggest that the larger GBPUSD trend has turned up. An expanded flat may be complete at yesterday’s low of 1.4049. There is a bullish opportunity against that level. Measured objectives are in the 1.50-1.5550 zone. Chart resistance is at 1.5378.

I'd need a grown up to explain it to me... but i like the look of them figures! (except the 1.4049 one, obviously )

veggie4life

$1.45 .

whatusername

Theres a lot of figures being banded around given earlier support levels which are way below where trading is now. Im unsure as to how these relate all i know is that for the levels to keep rising it needs to stay above 1.450 for a sustained period.

veggie4life

all i need is $1.50 before next wednesday and i'll be happy

whatusername

Dropping again, now below 1.45 currently 1.44967. Needs another go at it and a big run up this time.

whatusername

Going in the wrong direction, can't see where it's started doing that either 1.44858

whatusername

:eek: 1.44692

whatusername

It's in freefall 1.44602

whatusername

A rally? 1.4485