LET'S PLAY IN THE FOREX..AND NOT GET LOST! Message Board

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Strategies & Market Trends : LET'S PLAY IN THE FOREX..AND NOT GET LOST!

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To: Spark who wrote (83)	3/26/2007 6:49:48 PM
From: RockyBalboa	Read Replies (2) of 247

Carry trade update; GBP JPY overcame the 231 minor which can now serve as a support, now on the way to next the next one (234) as discussed. The yen weakness puzzles me but its in the chart. The initial GBP trade still has legs, supported by the dollar and the carry trade. The pound should have given in either by time decay or by Iran news but it didn't. At 1.97 sharp and the general dollar weakness (see EUR recovery) it is hard to imagine the pound not trading through 2.00

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