Today there is also cross-asset confirmation - Sterling has depreciation against the Euro and $ in a break of previous action. That Sterling is doing this independently of other currencies is significant.
source:Bloomberg LLP
Wednesday, 15 December 2010
Long Gilt Future Confirms Downside Break - Increasing Position Conviction
A week ago I suggested that Gilts had broken down at the long end. The successful test of the resistance at 120 (overhead supply) increases confidence in the short position. The standard trader response is to increase the position size, as the hypothesis of a breakdown has been confirmed.
Today there is also cross-asset confirmation - Sterling has depreciation against the Euro and $ in a break of previous action. That Sterling is doing this independently of other currencies is significant.
source:Bloomberg LLP
Today there is also cross-asset confirmation - Sterling has depreciation against the Euro and $ in a break of previous action. That Sterling is doing this independently of other currencies is significant.
source:Bloomberg LLP
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