Tuesday, April 28, 2009

Barclays Capital: sell the euro / pound in an attempt to increase

After yesterday's fall of the euro / pound today regained some losses, but some stg0.8970/75 bears again increased and has now been forced to hand over a couple of notable positions. Euro / pound is now holding about stg0.8910, feeling the presence of interest in buying near the figure, while further bidy remain in stg0.8890/80, and, while the growth of new attempts, according to currency strategists Barclays Capital, is not excluded is, they are advised to follow a bear strategy. The bank noted that the inability of the bulls to build upward movement above resistance around stg0.9120 implies a risk reduction of recurrence, which they recommend the use of trying to increase sales to make the move in the direction of stg0.8810. Ofer is now seen in the area stg0.8925/30, as well as near stg0.8955.

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