Wednesday, April 15, 2009

pound of the potential for further reduction

After attempts to Euro / pound rise above Ofer in stg0.8915/25 has once again proved unsuccessful, the couple dropped to the minimum and fresh, breaking bidy about stg0.8880/75, tested bidy near stg0.8860/50. Here, the bulls made a new attempt to counter, but is now interested in selling seen in the area stg0.8885/80 continue in the area of stg0.8895, and the couple currently holds around stg0.8867, continuing to feel the pressure. BNP Paribas currency strategists note that the euro / pound, of course, in recent days, quite passed the position, but in general the British currency to the restoration of a delay in comparison with other cyclic currencies, and the bank sees the risk of further strengthening of the euro, encouraging open short positions in the euro / pound at current levels with a view to stg0.8640. Meanwhile, their colleagues in the Royal Bank of Scotland also rather negative assessments of the prospects for a pair, but they believe that current prices are not very attractive to sales, and recommend to wait for rebound attempt in the direction of stg0.90 to open the shorts to make the motion to stg0 .85.

No comments: