what's with GBP/USD ? souring because ... ?

Discussion in 'Forex Trading' started by Guava, Jun 18, 2010.

  1. Guava


    Why is GBP going up so much against USD ? any ideas ?

    Needless to say, I am short GBP at 1.4720 and kind of worried.

  2. It's just risk-on...
  3. Look at your charts. The daily chart has been turning up for a month!
  4. Having said that, looks like it hit a halfway point and might be turning back down.
  5. If that's the case, why are t-bonds barely off their highs of the year and gold at a new all-time high today?
  6. I don't know, you tell me...

    Maybe, it's not just risk-on. Maybe it's the newly found optimism about the ability of the UK govt to deal with its budget woes vs the newly found pessimism about the ability to resolve this in the US of A.
  7. Guava


    I chickened out. luckily at small points loss because of the dip in the morning.
  8. LeeD


    Sterling has certainly had a spectacular rebound. However, Euro has probably had all the negative news priced in by now. On one hand, optimists like Jim Rogers are saying that Greece default will be a posistive signal for the Euro. On the other hand, the summer holidays have just started and few big players are willing to bet big (against Euro) while they are anjoying a summer holiday.