EUR/GBP short term predictions?

H

hawkmoon269

Junior member
Messages
14
Likes
0
I have been shorting EUR against GBP on and off since new year and this has been a profitable trade for me up to now.

Friday had a sudden rush of blood to the head and increased my stake significantly but sterling rebounded from around lunchtime onwards so am now sitting on a loss. I still think medium term trend is very bearish for the Euro.

Am in for around €40 per pip which is a lot for me. Does anyone have any suggestions?
 
KillPhil08 said:
Use a stoploss.
Click to expand...

And a bottle of whisky :)

Balls to holding the GBP over the weekend!

I think the same, Euro down against GBP, but prefer to wait until Monday morning. Can't beat a good couple of nights sleep on the weekend.

Split
 
There was lots of bad news released about the uk economy on Friday i think, and previously people were saying that they would reach parity. Is this no longer the case?

Or could the downtrend from around the 31st Dec be consolidation and now the uptrend has resumed?
 
bfd said:
There was lots of bad news released about the uk economy on Friday i think, and previously people were saying that they would reach parity. Is this no longer the case?
Click to expand...

I agree that that's the context. But I see a lot of bad news in the Eurozone coming down the line. Most of the bad news re the UK economy has already come out, I feel.
 
hawkmoon269 said:
I agree that that's the context. But I see a lot of bad news in the Eurozone coming down the line. Most of the bad news re the UK economy has already come out, I feel.
Click to expand...

Mr Moon ... i wouldnt take anybodys advice except your own... BUT.. for the record I think Sterling is a tad oversold... BUT... I wouldnt hold anything over a weekend unless I was in a very long term trade !!!

it seems there is such a lot that is happening now over the weekends many meetings and decisions being made that can change the mood of the markets and all you can do is sit there and take it in the chops on Monday..
 
you need to have a look at some interest rate futures for the eurozone and the uk. You will get a better idea of the interest rate differential being priced in by the market
 
You must log in or register to reply here.

Similar threads

rap2win
Predictions for USD/GBP?
Replies
0
Views
5K
rap2win
rap2win
T
Short EUR/GBP or Long GBP/EUR?
Replies
10
Views
3K
tomorton
T
G
Predicting short term currency fluctuations
2
Replies
28
Views
17K
GeckoTime
G
H
Eur/gbp
Replies
3
Views
1K
hawkmoon269
H
M
Hedging EUR/GBP rate
Replies
2
Views
2K
msrxlbp2
M
Top