•  
  • New York 06:28
  • London 10:28
  • Barcelona 11:28
  • Tokyo 19:28
  • Sydney 21:28
  • SignUp | Login

Technical analysis: Short Sterling

This report has been deactivated

Short Sterling – September 2009

Wed, Apr 29 2009, 08:21 GMT
by Nicole Elliott

Mizuho Corporate Bank  |  View company's profile


Vote:

4

0

Comment: With two-year Gilt yields threatening to drop below 1.00% (currently 1.11%), and three-month TBills yielding less than Base Rate (currently 0.46%) hopes that the financial sector is back on track are misplaced. Three-month Libor has inched fractionally lower again, offered at 1.45% today. Short Sterling futures should continue to trade broadly sideways with a very slight upside bias in the front months. Note that open interest has increased over the last month suggesting new hedging.

Strategy: Attempt small longs at 98.600, adding to 98.500; stop well below 98.400. Cover between 98.650 and 98.800.


Archive


Legal disclaimer and risk disclosure

The information contained in this page is based on or derived from information generally available to the public from sources believed to be reliable. No representation or warranty is made or implied that it is accurate or complete. Any opinions expressed in this paper are subject to change without notice. This page has been prepared solely for information purposes and if so decided, for private circulation and does not constitute any solicitation to buy or sell any instrument, or to engage in any trading strategy.
Vote:

4

0

Related reports

GBP/USD & EUR/USD by Charmer Charts.com
Fri, Mar 19 2010, 09:27 GMT

Greek uncertainty unsettles the euro by World First UK Ltd
Fri, Mar 19 2010, 08:50 GMT

USDJPY erratic situation continues by Investija.com
Fri, Mar 19 2010, 08:44 GMT

Daily Forex Overview by Dukascopy Swiss FX Group
Fri, Mar 19 2010, 08:41 GMT

Higher Still..... by SwingTradeOnline.com
Fri, Mar 19 2010, 08:19 GMT

futures, gbpusd

[ View All ]

Related content


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2010 "FXstreet.com. The Forex Market" All Rights Reserved.