AUTOREFRESH 
Good old Barclays Capital
By Gerry Davies || March 1, 2010 at 11:03 GMT
|| 8 comments || Add comment
Well they didn’t have to wait long for those stops through .9057 in EUR/GBP to be tripped. We’re up at .9075 having been as high as .9081.
Such is the pressure on sterling this morning, what with Pru/AIG deal being announced and concerns over hung parliament, touted option barriers at 1.5000 were taken out rather easily. The move through 1.5000 initially ellicited a small profit take, but it didn’t last long. We’ve been as low as 1.4964 so far, presently back up at 1.4975.
where do u see the base for gbp, gerry?
I might be wrong but cable move seems a little bit overdone in my opinion.
i agree francesco. i am buying bits and pieces on the way down but as my leverage is v small i am taking the swing in pl in my stride
Gerry
Did you see that piece by Edmund Conway in the Telegraph online, that shows Q4 GDP was actually revised down on Friday? But, by the stealthy use of smoke and mirrors the percentage went up! LOL!
Last night I posted a chart on cable:
http://www.pict.com/view/2988969/0/screenhunter02feb
It has broken all three resistances (2 channels, 1 fibo) like a knife through warm butter. I am enjoying the ride but I had hoped for a bounce to increase exposure. I have no idea as what to do with the pair now. Wait and see approach is best I can come up with.
Hi Sledgehammer, yes I did see the article. made for miserable reading.
Hi Gerry, the pound is being pounded…gotta be hard for brits, but don’t anybody say they didn’t see it coming…
On a side note… the news from US today smell like fish… Core PCE 0.0%, personal spending +0.5%… something has to give way and I make my bets on price index… Sooner than later the amount of money in the market are gonna weigth. And I guess that’s what traders are thinking right now. Which way?
I guess that’s why Soros said gold is in a bubble. As soon as inflation is gonna hit us, gold bubble will start. Can be one, two or more years till it’s burst…
And as a corrolary to what I said I am stating that 1.6+ for e/u by the end of the year is not out of the question. Good luck with those JPM options at 1.0 ….