Just finished reading an analysis piece by one of the bigger banks and their take is that the GBP could be the currency to come under most threat over the next few weeks when liquidity starts to reduce. They see the market as being quite long GBP against the CHF, JPY and EUR and they anticipate some ‘it’s never too late to sell sterling’ days before the holiday period is over.
I have been bullish cable for around 18 months now, and whilst I have made some decent money with my buy-dip strategy, I must say I’m very surprised to see cable still trading at these levels. Perhaps what can’t go up, must go down?
