Any sterling bears out there…?

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Morgan Stanley’s looking at a lower GBP/USD next year towards 1.5400, with a bounce in EUR/GBP towards 0.8300 in the first quarter of 2013 before the cross eases back again towards 0.7800 into the year end.

The bank’s citing a loss of safe-haven status for the pound and exposure to negative fundamentals as a result of  a slowdown in the Eurozone economy.

(Dow Jones story)


All|Economic Data|Europe|Regions

GBP/USD|Morgan Stanley|UK economy

Pete Jackson


  1. If I am not wrong Pete, these are the selling level in my opinion. We haven’t seen cable passed, 1.6155 for a while now.

  2. Pete,are you able to pull-up this report,be Prepared is the Motto.,Thanks mate

  3. here’s one big fat bear
    1..6150’s the shortin’ target

  4. morning Silverwing, actually just pulled that up from Dow Jones. Think 1.6300 may prove a tough hurdle but also see 1.5800 good support. I’ll scout around and see if i can pick up the full story

  5. Screw them: long term the Sterling together with the Euro will continue its uptrend against the USD. The USD is the currency to lose its save-haven status as Europe is making a clear progress in the debt crisis resolution while the US is doing zero to reduce its exploding debt. Short term we have also a clear uptrend – so they can really put their recommendation somewhere :)

  6. Something to keep my eye on in the coming year.

  7. Hi Pete even though I think very little of Chancellor Osbourn and his policies for the UK I seem to think there is a bit of stability in the region than its counterparts. Is it the effect of the olympics or I am just the only one who seems to think it is stable?

  8. I’m not that bearish to be honest pdowusu, think we’re likely to remain rangebound, but see EUR/GBP struggling to get as high as they do. Always interesting to see other peoples views though. Not so sure about this one mind you…

  9. Morning Pete :)
    I’d have thought Dow Jones will have picked up enough of the gist, considering the reasoning behind their short rec the other week .
    Sooo did they throw in the towel 100 pips ago, or are they still hangin in by a smidge for a loss ;)

  10. @fxzero..U got it wrong, USD will never lose its status Unfortunately, Sorry Charlie..and ..the Euro Sucks, always has, always will…Take it to the bank

  11. @Greggt In European Banking Business we rename USD the Monkey Money or the Third World Money ;)
    Its value is zero plus zero equal zero :)

  12. @fxzero
    EZ still has the debt problem. The only different is that It is December and in Europe we have a relax weather to buy many things (Santa) and forget the problems ;) january will be a nightmare for Europe


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