I'm short cable. For technical reasons. But you're not thinking ahead. The Pound rally has been predicated (besides across the board dollar weakness) on the assurance of a Torie victory. What does a Brown resignation do for Labour? It gives Labour a boost, eh? Anything good for Labour at this point is a BEAR ITEM.
A rule of thumb in the forex market, whenever there is a whiff of political instability, exit out of the local currency. Pound should go down and it did.
The short position I had (and still have a bit of right now for the weekend swing) was quite possibly the easiest trade I've ever made and so far my biggest gainer trade
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What you say is true but think of it, maybe those who sold are "friends" of the current government who are "bailing out" at this point. Anyway, markets do not like uncertainty. Uncertainty= irrational behavior.
BBC Video of Brown being loudly booed AT the D-Day Commemoration. http://news.bbc.co.uk/1/hi/uk/8087302.stm also www.order-order.com Guido Fawkes' Blog You can find out the truth here.He's well connected and follows the money.If most people read his blog,or the MSM fairly covered it,Labour would have been out years ago.
I must confess I don't know anything about Gordon Brown. Why is he considered to be so lousy? I only watched the movie "The Deal" (2003) and his reputation seems to have been that of a smart dedicated liberal.