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More misery for pound

Pound falls 100 pips in 100 seconds as us home sales beat expectations. The reason for sterling weakness is directly and solely due to Usd bulls buying the usd and selling the pound which is affecting all other pound crosses.

It seems the cable is headed for another test of 1.40 and lower as us bulls prefer to trade against the pound rather than the haven eur and jpy in the face of falling oil prices and central bank meetings this week.

6 Comments

  1. Hi Mo,
    hi others!

    Just to be sure everybody knows: It was not me!!! I didn’t open any trade today. lol!

    Thanks Mo for your thougts,
    Thomas

      1. The situation is not that bad at this moment…You closed a trade in profit and that matters…Thanks for your short infos here on webpage and of course on twitter… 🙂

  2. Love to read your posts and to see good and profitable trades on etoro. :). It is still paper loss so far. So no worries. Keep up the good work bro! Hope you still on planning to do the 2-year plan on etoro.

    Kind regards,
    Ken.

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