Pippy5000
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I don't think the market is done trying for EUR/GBP parity despite EUR/GBP getting hammered today.. When parity is reached a massive EUR selloff will ensue causing a huge spike in GBP demand as profit takers from long-term EUR/GBP positions from months ago cash in and very large short sell orders from macro players strategically positioned at EUR/GBP 1.0 are filled.. I picture a few speculative longs at EUR/GBP with tight stops have the potential to be crushed quickly and converted in ally GBP buyers as their stops are triggered. Blue-sky territory is a very scary place to be for nervous nellies. Essentially, we will cause demand for GBP from those already in the market and from those waiting just on the sidelines for now. I'm expecting EUR/GBP 1.0 to be the beginning of the real movement for the GBP in a positive direction and put an end to the lower lows in GBP pairs. I'm sure long-term speculators such as myself will be watching GBP/USD like a hawk as well waiting to buy copious amounts of GBP and will attempt to time it with EUR/GBP parity, that being the lowest point to buy GBP during the 2008-2009 credit crunch. I believe this to be 1.4004 or 1.375 in GBP/USD terms.
Now some of you will say, "I see the EUR/GBP crushing parity and moving on to 70 Euro cents to the Pound". It just might do that in the long-term, but my prediction relates exactly to what could happen the very second the price strikes 1.00 for the first time.
utter Euro bloodbath in the very short-term is a strong possibility. Your broker might lock you out due to insane volume during this historic forex event.. That's why I'm going short just a wee bit before EUR/GBP parity. When the clock strikes 1.0 all hell will break loose. Don't get overleveraged because even if I'm right there could be a false spike higher to lure in the suckers. You can add lots when the dust settles a bit.
It's very hard to kill a currency.
Now some of you will say, "I see the EUR/GBP crushing parity and moving on to 70 Euro cents to the Pound". It just might do that in the long-term, but my prediction relates exactly to what could happen the very second the price strikes 1.00 for the first time.
utter Euro bloodbath in the very short-term is a strong possibility. Your broker might lock you out due to insane volume during this historic forex event.. That's why I'm going short just a wee bit before EUR/GBP parity. When the clock strikes 1.0 all hell will break loose. Don't get overleveraged because even if I'm right there could be a false spike higher to lure in the suckers. You can add lots when the dust settles a bit.
It's very hard to kill a currency.
