GBP getting stronger ?
I was asked an interesting (and common) question from a Linked in friend this week
"when will GBP get Stronger ?"
heres a Fixed Strengthmeter from jan 2016 to date ....the Red line is of course GBP
The good news is that GBP (the red line) has certainly clawed back against most currencies in the last 12 months .....but the problem is the intial drop was over 20% on currencies from highs of 2016 on the fateful 24th June decision....that takes years to recover from unless we had some huge news event - (like deciding to stay in the eurozone)...if the Negociation process remains positive and on track i can see some increase in GBP value over next 12 months ......we are seeing a major Resistance (Ceiling) level at the moment on the red line shown ......if it can stay above the line and keep growing it will be a stronger GBP in 2018..fingers crossed !!
just my view and dont quote me ......as for trading - i will as usual trade what i see and not what i want to see !