The euro sank this week as the Eurozone became unhinged in political elections that ousted leaders who led the charge for austerity. $GBPUSD followed in sympathy but today’s BoE decision to hold off on another round of quantitative easing (QE4) has lifted sterling across the board. As with any strong trend, the contrarians are circling. Many bears are out looking to short sterling especially in $EURGBP and $GBPUSD. But this bull trend in sterling is not one to step in front of. Don’t fight the flows!
- Bank of England stops QE as inflation worries weigh (Reuters)
- MIXED INDUSTRIAL NEWS (EconomicsUK.com)
- GBPUSD Update (50’s Blog)
- GBPNZD 4H: anybody like the 2.03 area? (Chart.ly)
- EUR/GBP: .8000 Should Prove Magnetic (Forex Live)
- Euro Drops to 3-Month Low After Greek, French Elections (Bloomberg)
- BOJ really not liking the sym triangle at major harmonic reversal level (Chart.ly)
- BOJ Apr 9-10 Minutes: Agreed To Monitor Feb Easing Effects (Forex Live)
- Cameron didn’t learn from Lamont on recession – early sharp cuts hurt (The Guardian)