by Ramki | Nov 12, 2008 | GBP
The Governor of the Bank of England, Mervyn King, has said today that the UK is probably in recession now and 2009 is going to be difficult. He also asserted that he stands ready to cut interest rates again if that is required. Clearly, we need to remain short in...
by Ramki | Nov 6, 2008 | GBP
I warned you folks about this chop in Sterling Pound . In just 40 minutes, Sterling had dipped from 1.5830 to 1.5720 and raced higher to 1.6020. What should one do in such a market? The most sensible thing to do is to go out for a snack. Why get involved in the middle...
by Ramki | Nov 4, 2008 | GBP
You might have been saved by my previous post but believe me, the Pound still has the potential for significant wild moves in the next few sessions. Read the chart for the comments.
by Ramki | Oct 31, 2008 | GBP
Having failed at 1.6670 levels, the Pound has come off by over six big figures already. Question is whether we will see 1.5250 soon? There is not much of a doubt that GBP/USD is in a bear trend, and some might think that all we need now is an overlap of 1.5934 to call...
by Ramki | Oct 30, 2008 | GBP
The Forex markets have been known to be very liquid. But today the liquidity was at its lows. Spread on GBP/USD was 15 pips wide for a mere 10 million quote even when London was in full swing. I imagine this must have been the case even yesterday in NY time because...
by Ramki | Oct 24, 2008 | GBP
I have been looking for Sterling to find support around 1.5850 because that area (as marked in this chart) was respected several times in the past 20 years. But today is a different story. Incredible as it seems, we were at 1.75 just 4 days back, and today’s low was...
