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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Square_Dealings who wrote (3876)	5/20/2001 6:25:39 PM
From: John Pitera	Read Replies (1) \| Respond to of 33421

I think that Sterling is benefitting from the breakdown of the euro/ GBP crossrate chart fxstreet.com the pattern on a daily basis had been a descending triangle, with the Eurocurrency weakening relative to the British Pound. with the Euro breaking down against the GBP, you should have the liquidation of long euro/short GBP positions and also some new short euro/long GBP positions put on. the Euro/GBP cross rate is one of the most heavily traded. JOhn