Upon the brexit a lot of experts predicted that the GBP would weaken in the short term, but in the long term how do we see it moving?
There's a lot of uncertainty in the UK at the moment mainly with the decision making in parliament as it's a mess and this same government have to negotiate the terms of exiting the EU, so I can understand why the GBP is falling, but do we expect it to continue to fall? Even once a PM has been elected? I can imagine once they actually trigger article 50, that would cause the GBP to fall again.
I'm looking for a long entry point and would love to hear your comments.
looking for a long on gbp is like looking into a gun. u sure ud like to pull that trigger?
if you truly want to go ling on gbp it would take you waiting of few years. at least 4 years before you can think of a long position.
the only exception isif UK makes another referendumamd decides to stay in EU. then the gbp got a potential for a 20% rise within a very short time frame.
If you are looking for a long trade on the cable, then let it be on a short term trade especially after news announcements.if you analyse weekly COT reports more traders are going short than long. In the long term I am seeing the Cable reaching parity levels with the Greenback by March