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GBP / EUR reaches 2 year highs! (Dayle LIttlejohn)
Today we have seen further indication that quantitative easing could begin on the 22nd. This is when Mario Draghi and the European Central Bank will meet to discuss the problems in the Eurozone. Mario previously hinted last week he would begin quantitative easing if necessary and this has been backed up today by Beniot Coeure another member of the ECB who exclaimed ‘policy makers must treat the threat of deflation seriously and shouldn’t delay a response’. In addition GBP/ EUR has therefore reached the high 1.28s and found a footing.
In previous weeks we have seen Sterling reach the high 1.28s/ 1.29s and then come plummeting back to the mid1.27s. I’m of the opinion that the Bank of England will not want GBP/ EUR to reach and stay in the 1.30s as isolating ourselves in the Eurozone trading market could have a negative effect on the UKs economy. Therefore if you are looking to trade Sterling to Euros in the near future, I would recommend timing your trade wisely. If you would like me to be your eyes and ears at this volatile time feel free to email me on [email protected]
Source: http://www.eurorateforecast.com/2015/01/13/gbp-eur-reaches-2-year-highs-dayle-littlejohn/
I think in recent months we have seen so many pairs hitting all time high or low, so this comes as no surprise to me but what makes a difference to me is whether this will hold or not? I am at the moment blindly following signals / analysis from my broker OctaFX, they have highly qualified team of experts which do the work in the back ground and then provide us with the best analysis that we can trade on so I really trust them a lot!