After another assault of the high the pair has since retreated to 1.6390, or a couple hundred under the sessions high. As the Brown Labour government continues to muddle through, the Brits optimism that improving conditions will continue is helping consumer sentiment. The the GBP versus the EUR has moved to the highest level since Dec 08, but the GBP versus the USD may have printed a double top. We had been recommending trading from the long side but this pair's failure to move to new high ground makes us waryof this approach. Perhaps it is best to take a pass for today and see what monday brings.
No comments:
Post a Comment