The Advisor Weblog

Best pair to trade now: GBP/USD

Posted: 21 Dec 2010 04:05 AM PST

Here is my first choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010/12/21/02/

Starting the day

Posted: 21 Dec 2010 04:04 AM PST

Hi everybody and welcome back! Thin market conditions are not enough to halt Euro and Pound weakness, that remain pressured since past week; fundamental data is also weighting on both currencies, with sovereign debt woes in Europe increasing as well as UK public borrowing tht hit a record high in November, as spending rose at the fastest pace since February, fueling fears that the public finances are far from under control. Still and despite short term bearish momentum, there were news late yesterday that the BOE will start raising interest rates within six months to curb inflation, according to a report from the Confederation of British Industry, targeting 2.75% before reviewing the pace of hikes. A bit of a long term view for GBP.