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11/06/2007

Pound will be corrected the most

Although the pound grew up despite the bad data of Retail Sales I think it was an inertial move.

Retail Sales have to impact negatively on the Pound and first on the GBP/USD. A very strong level 2.0900 is about to come and they will wait for a good moment to sell. Anyway it looks like the correction of euro currencies is approaching and the Pound will be corrected the most.

As for the Yen it will continue to decline. We’ll be watching what will be going down faster – Pound or Yen. I believe it is the Yen.

This position on Monday prompted me to worry. My SL stands at 23 pips below the minimum. Useful Stress Killer :)

P.S. SELL GBP/JPY 2.0890

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