Pound vs euro (FX:GBPEUR)
The battle of the chocolate coins continues with little sign of resolution. Though we do have a pointer of some resolution, despite the pairing effectively spending the last six months messing around aimlessly.
As can be assumed, as we approach “that time of the year” when people are planning holidays or whatever if an effort to escape our miserable climate, we’ve started to receive emails asking our opinion on this currency pairing. At present, we’re completely underwhelmed as aside from a brief blip upward, there’s not a lot happening.
Back at the start of March, we did express an opinion should this relationship better €1.14, we expected some movement toward €1.179. Nothing has occurred to change this potential but it’s surely moving at a glacial pace. In the event €1.16 is exceeded anytime soon, things should speed up quite nicely. About the only thing worthy of comment is the pairing now needs below €1.125 to scupper the potential of €1.179 making an appearance.
- What’s next for “Britcoin” and its European counterpart?
Better still, should €1.179 make an appearance before the next ice age and perhaps be bettered, we’re calculating a secondary at €1.214.
What happens if €1.125 is broken?
Some relaxation to an initial €1.097 can be planned for. Secondary, if broken, looks like €1.077 and another bounce. But for now, we’ve little choice but to think of this as heading to
€1.179, just very, very, slowly.
Source: interactive investor Past performance is not a guide to future performance
Alistair Strang has led high-profile and “top secret” software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know “how it worked” with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
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