Is Sterling a good currency to trade ?

Question

Please give comments if you are currently trading sterling.

Thanks.

Answer 1

Currently sterling is trading at low. Today sterling remained generally weak against the Euro with lows around 0.79, although it did exhibit some initial resilience. This currency also tested levels above 1.97 against the dollar as the US currency slumped.

Underlying confidence in the UK economy will remain very weak in the short term, especially as there has been a renewed increase in energy prices which will increase pressures on spending and risk an increase in political protests.

Therefore i would suggest you to go long now as the market is bear now. It is a very good time to take advantage of this trend. I am Expecting the trend to break at level 1.96.

Answer 2

I have just started with sterling trading few months ago.  I was convinced by friends to try sterling.  There is enough voliatility to do intra-day currency trading.

Using the London Forex Rush and it has proven to be really an asset. It is very comprehensive even for a new comer and the signals are good.

Answer 3

I'm currently trading Sterling. Right now it's seeing range-bound trades considering inflation and marginally slowing growth. Action in the real estate market too plays a role here specially given the mood of foreign investors (specifically Asian property investment groups).

But still, the Sterling is one of the power currencies out there along with the Euro. From last week's figures and reports, trading below 2.0000 is a sign of weakness. Supports are 1.9800, 1.9600, 1.9385; resistances are 2.0275, 2.0400.

Answer 4

expensive , but I like it.

very stable.

Answer 5

Had many good runs on sterling before but I've slowed down as I'm busy at the moment.  Should be still good to trade.