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

DaMaNiAc82

£'s having a stormer! 1.5288

inspector_monkfish

1.5302 trading :beer:

Keith99

inspector_monkfish wrote: »

1.5302 trading :beer:

Hope it keeps going up!!

sitcom123

inspector_monkfish wrote: »

1.5302 trading :beer:

OMG how exciting is this, come on the pound :j:T

DelBoyPhil

inspector_monkfish

DelBoyPhil wrote: »

looks ripe for a correction doesn't it.....

inspector_monkfish

10:39 12May09 GBP/USD Hits 4-Month High, Eyes $1.5374

LONDON - Sterling has hit a four-month high against the U.S. dollar Tuesday morning and should soon be in the vicinity of its January $1.5374 peak.

The currency pair has so far reached $1.5306, which is above the Jan. 7 peak of $1.5274. If a daily New York close above the latter level can be made Tuesday or Wednesday, then this year's $1.5374 high point, made in January, will again come into the spotlight.

This chance to go higher comes as the pair fell back to but held at $1.4975, the 78.6% Fibonacci retracement of January's decline, on May 7, as correctly forecast by this column a couple of days earlier on May 5.

The ensuing break and daily close above the psychological $1.50 zone, followed by a push higher to the then $1.5247 May high, showed that a valid break above the $1.50 resistance area had been made.

After all, this was the fourth attempt to do so and, according to Gann
theory, the fourth try is very often the successful one. On the past three occasions when cable got close to or just above the $1.50 area -- on Jan. 16, Feb. 9 and April 15 -- it failed dismally and dropped the next day.

This time around the current advance has clearly managed to break and, more importantly, stay above the $1.50 zone over several days, reinforcing the current uptrend.

Minor support is seen around Monday's $1.5071 inside day low. However, a fall through there would put into question the current advance. Further support is seen around $1.50 and at $1.4975, the 78.6% Fibonacci retracement of January's decline.

Daily oscillators, such as the Relative Strength Index and Slow Stochastics, continue to rise in line with the GBP/USD exchange rate but are getting increasingly overbought.

It should be noted that from a risk/reward point of view, buying sterling versus the U.S. dollar at present levels does not make sense.

At 1035 BST the currency pair was trading at 1.5278, up 156 ticks.

dazzer68

why is this thread under overseas travel? if its just business rates and not tourist rates?

jackieblack

Christa1 wrote: »

I don't understand the rates here as I was in the Post Office today and they were only offering $1.46 to the £. Are these just trading figures you are posting here or what you can actually obtain as curreny for going away with, and where would you get these rates?

If you pay abroad using a credit card the transaction is calculated at pretty much market rate at the time the transaction is processed.
If you have the right credit cards (ie ones that don't charge a foreign transaction fee, eg post office, abbey zero) this works out better than the rate you'll get when buying cash/travellers cheques from most places.

inspector_monkfish

dazzer68 wrote: »

why is this thread under overseas travel? if its just business rates and not tourist rates?

gives those travelling to US an idea of where the cable rate is right now, and also where it may be heading in the future....