19th October - Can Sterling Euro hit par
The hard Brexit political and economic conditions for further Sterling weakness are clear.
And the current wide trading range of the market allows a move towards par or close to par which is close to the Prior Highs in August this year (0.9306) September last year (0.9365) and December 2008 (0.9803).
But as yet, the chart does not suggest the existence of compelling structures within the trading range that is pushing in that direction let alone penetrating through the opt of the range.
Of course, if somehow those highs were overcome, then once above 0.9803, which would establish support at that level, the market would accelerate away a good deal higher.
Certainly as far as par and probably a good deal higher still.
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