The world’s loosest central bank, GDP firmly in negative territory, sentiment so bad people are blaming the lousy economy on the anniversary of an old lady’s job…What’s a currency to do?
Rally two cents, of course! It’s cable. That’s what it does. It teases you into shorts before slamming the door and not letting you out until your account is empty.
It’s the devil’s currency.
If long, booking some profit ahead of the 200-day moving average at 1.5745 looks to be the way to play as the pound thrashes wildly in a 1.54/1.58 range.
