Can any one tell me ....

[you'rebeautiful]

as a novice why did the GBPUSD plummet today? I am aware of our (GB) issues and fears of recession etc. but why the big jump? What is the usual aftermath? Will it catch up? One last question as well please what is anticipated next week with interest rates and the knock on with FX trades?
Thank you all in advance.

 

[Tenapenny]

as a novice why did the GBPUSD plummet today? I am aware of our (GB) issues and fears of recession etc. but why the big jump? What is the usual aftermath? Will it catch up? One last question as well please what is anticipated next week with interest rates and the knock on with FX trades?
Thank you all in advance.

Not sure why it dropped today but thanks to Captain Currency's "3 Ducks Trading System" it earned me more than a few bob whilst I was out all day.

Thanks Andy.

 

[you'rebeautiful]

Tell me more. i like a good duck so three would be heaven, especially whilst I was out.

 

[Tenapenny]

Tell me more. i like a good duck so three would be heaven, especially whilst I was out.

Download the system from here Captain Currency

 

[rnicoll]

as a novice why did the GBPUSD plummet today? I am aware of our (GB) issues and fears of recession etc. but why the big jump? What is the usual aftermath? Will it catch up? One last question as well please what is anticipated next week with interest rates and the knock on with FX trades?
Thank you all in advance.

Momentum from the drop over the last few weeks. It didn't stop dropping at around 1.85, it merely paused for a bit of a breather and a cup of tea.

My opinion on what's going on: The GBP has been overvalued vs USD for months. Down to 1.85/1.9 was simply a corrective move. Down below 1.85 is mostly momentum... I'd expect to see it not fall below 1.8, and eventually stabilise around 1.85 until something unsettles one side or the other. Long term, both currencies are fairly screwed, so it's hard to guess what will happen.

 

[you'rebeautiful]

Thank you. 1.85 would be nice, 1.8 not.

 

[rnicoll]

Thank you. 1.85 would be nice, 1.8 not.

I'd quite like 3, personally, but I suspect that's a touch too optimistic. Good luck!

 

[rnicoll]

Thank you. 1.85 would be nice, 1.8 not.

In light of the current (1.78-ish) exchange rate, I thought I'd drop in and go... ouch, sympathy.

(And yeah, apparently I was wrong)

 

[jiggly]

any ideas why these currencies gbp/usd, eurozone rates are practically hitting their daily ranges in the early ours of the asian session. in paricular the gbp/usd.

all the fun seems to be had by those trading through the night or in asia. by the time us brits wake up we are trading a range bound market.