The Sinking Pound

[Katys Grandad]

<blockquote id="quote" class="ffs">quote:Originally posted by wrpac00
A friend of mine on another forum is well into this and he posted this today: -
Watch $1.7875 up for a change in trend but personally, I'm expecting the slide to continue to around the $1.66 mark and if that's broken with any conviction, then I see nothing on my charts in the form of support lines until we get to the major level of $1.56 so strap yourself in for the ride.


Don't undersatand what it means exactly (he mentions bulls and bears) but it down sound like good news especially as you say there was talk of it breaking the $2 to the £ barrier, they seems so long ago now.
[/quote]

Its now broken through the $1.7875 and then some! Back over $1.80 this morning. Dare we hope for even better?

[Sharon G]

Global currency exchange are offering 1.80 this morning!![msnsmile]

[domster]

I think due to the oil prices rising this might help the pound rise against the dollar.

[wrpac00]

Nearly the end of my holiday now so it won't help me much but if it stays where it is others are going to be laughing.

[Katys Grandad]

The Sinking Pound is becoming the 'Rising Pound' - over $1.84 as I write this. I'm sure the horrendous events following Katrina are a small factor but this might be a reversal of the recent trend.

Wish I could feel happy about this but every time I see the TV I realise how unimportant such things really are.

[Katys Grandad]

Pound at 2 year low against $US today at just above $1.71. I suppose that means a tourist rate around $1.66?

Doesn't seem very long ago when the talk was of £1/$2. Can't see that anytime soon.

[Katys Grandad]

Another 2 year low today with Sterling dropping momentarily below $1.71. Almost 12% less for our pounds than this time last year.

There seem to be mixed views as to where it is going with some so-called 'experts' saying over $2 to £1 in 2006. Problem is the same experts were predicting that for 2005.

[Macka]

We always go to Florida around March/April, very early may.

In our experience the rate picks up a bit after Christmas for a month or two so we end up buying around mid to late Feb. Not wholly scientific I know but I'd hold off for a little bit if you're considering buying now.

[domster]

Well I have never heard of this theory, but will watch out to see if you are right MAcka.

The rate has been pretty stable for the past month now. Will be using our US Account this week, so no need to change any money up.

[Macka]

Yes I know it sounds a bit far fetched Dom, and it hasn't worked every year, but I think it has something to do with the US Treasury releasing trade figures early in the new year.

I must see if I can get a graph of trends to find what really is the best time of year to buy.[msnwink]