ATF
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Post by ATF on Apr 11, 2015 0:30:41 GMT 7
GBP is in freefall today follow my earlier prediction and start taking positions at $1.43 it could find a bottom at sub $1.40 but $1.43 should be good for a half position. Its not just GBP...its EUR, SGD, AUD etc also, but GBP is falling as fast as EUR. If EUR gets to parity, that's another 6% to go, which could take GBP to about 1.4, assuming EUR/GBP doesn't fall. Your 1.40 could be a good level to watch, but id wait for EUR to stabilise, personally....not that I would ever claim to any kind of expert on FX....just an opinion. The graph of GBP/USD shows a bottom of $1.43 of course it could break that support but I would expect a bounce off it. If that support fails then the nearest support is $1.38
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The Arrow
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Post by The Arrow on Apr 11, 2015 0:40:30 GMT 7
Its not just GBP...its EUR, SGD, AUD etc also, but GBP is falling as fast as EUR. If EUR gets to parity, that's another 6% to go, which could take GBP to about 1.4, assuming EUR/GBP doesn't fall. Your 1.40 could be a good level to watch, but id wait for EUR to stabilise, personally....not that I would ever claim to any kind of expert on FX....just an opinion. The graph of GBP/USD shows a bottom of $1.43 of course it could break that support but I would expect a bounce off it. If that support fails then the nearest support is $1.38 It's the election and the uncertainty (certainty) of a hung parliament.
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sirchai
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Post by sirchai on Apr 11, 2015 21:22:06 GMT 7
An honest answer to a honest question. Never. Because the UK will soon take over the Euro from Germany, with all the Greece goodies and Germany will go back to its old currency.
Sorry, I'm aware that the truth sometimes hurts.
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The Arrow
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Post by The Arrow on Apr 11, 2015 21:24:55 GMT 7
An honest answer to a honest question. Never. Because the UK will soon take over the Euro from Germany, with all the Greece goodies and Germany will go back to its old currency. Sorry, I'm aware that the truth sometimes hurts. I think you're probably right. ECB printed 1.1 trillion in Euros. That will fail. The whole EU project is ill conceived at best.
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Post by rgs2001uk on Apr 11, 2015 22:16:02 GMT 7
An honest answer to a honest question. Never. Because the UK will soon take over the Euro from Germany, with all the Greece goodies and Germany will go back to its old currency. Sorry, I'm aware that the truth sometimes hurts. Great stuff, if only it were true, I can dump my useless pounds and instead invest in the mighty dm. Its return cant come fast enough for me. Let the French take it over, if they cant afford bread let them eat cake.
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bbaker
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Post by bbaker on Apr 12, 2015 0:51:07 GMT 7
An honest answer to a honest question. Never. Because the UK will soon take over the Euro from Germany, with all the Greece goodies and Germany will go back to its old currency. Sorry, I'm aware that the truth sometimes hurts. I don't understand this part. The UK already rejected the Euro and if Germany does, who is left and why would the UK prop it up? It isn't like the UK doesn't have enough to deal with at home. I would guess something more like the collapse of the Euro?
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siampolee
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Post by siampolee on Apr 12, 2015 9:13:23 GMT 7
Reading todayS Telegraph the way things are going it will son be 70 pounds to the baht.
Seems as if the U.S. dollar is running at around 1-43 to the pound.Thai baht at around 47-67 to the pound.
The results of the U.K. general election next month may bring stability but not strength to the pound. In my view it's going to remain weak for the foreseeable future of around 6 months.
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The Arrow
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Post by The Arrow on Apr 12, 2015 10:08:55 GMT 7
I think it's on a downward trend to 38 and will hold there, probably for most of our lifetimes, because I simply cannot see how the UK really sorts this monstrosity of a debt mountain out.
But then I'm usually wrong.
Where's Naam? We need Naam to give us vague cryptic clues to confuse us even more.
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Post by Fletchsmile on Apr 12, 2015 10:54:45 GMT 7
Think we've quite a few support levels before USD/GBP 1.43. The 52 week low is 1.4587, so that needs to fall first and a few other support levels in between, but yes still in a downtrend, which is pretty clear if you look on Bloomberg's 1 year chart: www.bloomberg.com/quote/GBPUSD:CURCheers Fletch
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Post by Fletchsmile on Apr 12, 2015 11:02:35 GMT 7
For anyone interested in following particular currency pairs, stocks, indices etc, I like the website at investing.com (used to be called FX something or other.com, but then they expanded into other markets, and changed the name). Not 100% exact, but a nice free resource: If you take USD/GBP as an example: You can have a general overview: www.investing.com/currencies/gbp-usdTechnical analysis, where you can see technical indicators and moving averages, over different time frames like 5mins/15mins/1day, support levels and all that sort of jargon www.investing.com/currencies/gbp-usd-technical?period=86400Historical data, for open/close/high/low etc www.investing.com/currencies/gbp-usd-historical-dataIf you put in GBP/THB you can do the same thing for that, and then see overview, technical data, etc etc www.investing.com/currencies/gbp-thbCheers Fletch
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Post by Fletchsmile on Apr 12, 2015 11:21:09 GMT 7
The other thing I like about the investing.com website is you can register for free, just need an email etc, and set up your own portfolios of currency pairs, stocks, indices, even commodities like gold (XAU/USD) silver (XAG/USD). Easy to use too, and just click around. All sorts of decent info on there. Even has a forum, although obviously not up to our quality and humour www.investing.com/portfolioOnce you've registered and set up the info you're mildly interested in, you can then just open the website, and all your info on what you want to see is there, so no need to keep inputting the same stuff. This means you can spend quality time on Bigmango.net instead Great free resource. For someone wanting to take further, they have trading platforms etc. But I like the business model of giving info for free to generate interest and goodwill. BTW Should add, that personally I'm not a massive fan of all the charting and technical stuff, but like a lot of other things, if enough people follow it, it can have an impact and become self-fulfilling to an extent. Cheers Fletch
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sirchai
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Post by sirchai on Apr 12, 2015 22:04:15 GMT 7
An honest answer to a honest question. Never. Because the UK will soon take over the Euro from Germany, with all the Greece goodies and Germany will go back to its old currency. Sorry, I'm aware that the truth sometimes hurts. I don't understand this part. The UK already rejected the Euro and if Germany does, who is left and why would the UK prop it up? It isn't like the UK doesn't have enough to deal with at home. I would guess something more like the collapse of the Euro? Nobody, and i mean freaking nobody was asking Germans ( I mean West German people) if they even wanted the <duck>ing Euro. I truly hope that Germany will find a way, of course not with a hardcore East German chancellor, to get back to its old currency. Would <duck> up most of the older and of course all the "new" EU countries. Hope is the last that dies. but I'm soon 55 and might not be able to see it.
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naam
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Post by naam on Apr 14, 2015 10:50:25 GMT 7
I think it's on a downward trend to 38 and will hold there, probably for most of our lifetimes, because I simply cannot see how the UK really sorts this monstrosity of a debt mountain out. But then I'm usually wrong. Where's Naam? We need Naam to give us vague cryptic clues to confuse us even more. Naam's forex forecasts are aftercasts. he only casts on things pertaining to the past.
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naam
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Post by naam on Apr 14, 2015 10:52:55 GMT 7
An honest answer to a honest question. Never. Because the UK will soon take over the Euro from Germany, with all the Greece goodies and Germany will go back to its old currency. Sorry, I'm aware that the truth sometimes hurts. I think you're probably right. ECB printed 1.1 trillion in Euros. That will fail. The whole EU project is ill conceived at best. i think you are both probably wrong.
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Post by Fletchsmile on Apr 14, 2015 12:55:10 GMT 7
Still not looking good for sterling. Looks better than the Euro mind, but then again so do even the chocolate coins the girls bought at Tesco. GBP hit a 5 year low when it went thru 1.4586. It's new one 1 year range is now lower at 1.4566 - 1.7192 www.bloomberg.com/quote/GBPUSD:CURCheers Fletch
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