It all depends on your overall view or current position
I’m still a seller although entry level as always is key depending on your trading time frame.
The chart shows the sharp recovery, and BOE King’s comments last night will be duly noted, but the Pound hasn’t come down simply because the BOE talked it down. It’s come down because the UK has shown a fundamental inability to deal its way out of the mire. Ok, devaluation talk has helped but overall we’re struggling to turn around our excessive glut of borrowing in the past 10 years. The economy is being starved of new money as I said in my radio interview with the BBC the other day. Without the banks lending money I don’t see how our economy can grow/deal itself out of the current position.
The market will decide where it wants GBP to be. Not Mr King, or you or I. Let’s see what today brings as a starter.
