Well, it looks like 2.00 will happen at some point pretty soon, possibly if the US employment data is poor on Friday. The real question is what happens once we get there- the balane of risk must favour some profit-taking at such a critical level, which could provide a temporary boost to EUR/GBP.
However, if Voldemort and UK corps keep buying sterling, the technical resistance might not prove sufficient to prevent at least a temporary foray on a 2 handle.
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Click here for commentsDear MM,
Reply1.3342 sounds like a great sell.
Did you see the cable go thru the roof ? You were talking about a traditional resistance at 1.9X, looks like we are going to touch 2.00 pretty soon ?
Well, it looks like 2.00 will happen at some point pretty soon, possibly if the US employment data is poor on Friday. The real question is what happens once we get there- the balane of risk must favour some profit-taking at such a critical level, which could provide a temporary boost to EUR/GBP.
ReplyHowever, if Voldemort and UK corps keep buying sterling, the technical resistance might not prove sufficient to prevent at least a temporary foray on a 2 handle.