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Thursday, April 29, 2010

EURGBP monthly update

Sterling had a temporary upswing within the consolidation pattern against the EUR (in the chart its a downmove) but will most likely now move towards the upper end of the triangle and even break out towards the ultimate 1.00 target. Britains AAA is not sustainable and the pressure on rating agencies phony rating system will build up ( one wonders why this criminal organization is allowed to proceed - not really politicians belong to the same breed of plutocrat-(b)gangsters). The upcoming elections carry a huge potential for disappointment in Britain with a hung parliament. Basically Britain is a mess with all its debt and had to be bailed out by the IMF a few decades ago and only the zero interest rate keeps it alive but does not deserve a AAA probably even a BBB would be too much rather but that is the best it should have if you bet on a global real recovery which I do not.

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