Possible end of GBP

[JSSPMK]

Quote from ASusilovic:

Never understood "overvaluated" GBP... I would prefer 1:1 GBP/EUR and 1:1 GBP/USD

I would say 1:1 Euro if not less & 1:5 GBP/USD, if USD is to continue its decline vs other majors, than again I don't get involved in FA, so just have a laugh

 

[JSSPMK]

Quote from just21:

The government have been campaigning against suv and big engined cars are now going to have to rescue Land Rover and Jaguar! Joining the euro will never pass a referendum. There is not time to organise it before the next election and the conservatives would never hold one.

I thought they are an Indian issue now (Tata).

 

[just21]

Quote from JSSPMK:

I thought they are an Indian issue now (Tata).

Tata made $5 bn last year and are going to sponsor the ferrari F1 team next year. There are two many marginal constituencies in the west midlands for the government not to bail it out though.

 

[JSSPMK]

Why bail them out, if we have seen the future of auto industry. I want a Honda

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[zdreg]

Quote from NielsenDK:

I am often in London and the people i talk to are divided on the issue. The media is pretty much against it, and the people pick that up. But most people don't want to dig into what the EU is all about and what the Euro can or cannot do for them. And the EU is certainly not helping in providing much public info about what it is. So they would vote no. They do like the pound, it is part of their history. It is what they know and trust.

This is what happened in Ireland as well. They voted no on the Lisbon treaty, not because they didn't like it, but because they didn't know what it was about and they were happy with what they had.

Some people are a bit reluctant to the EU, because they do not know what's in it for them. And then their national pride helps to make the decision for them. They stick with what they have and trust.

people said that the germans would never give up the mark.. when the time came there was a mad rush to convert to euros.

that being said this thread is on the wrong track.. the question is when will the euro be history? when will the german mark come back? the above is probably worth a thread or two in itself.
http://www.elitetrader.com/vb/searc...=2735598&sortby=lastpost&sortorder=descending

 

[ralph00]

Pound nearing a bottom ...?

http://www.timesonline.co.uk/tol/money/investment/article5336573.ece

 

[JSSPMK]

Quote from ralph00:

Pound nearing a bottom ...?

http://www.timesonline.co.uk/tol/money/investment/article5336573.ece

I fail to see any sort of bottom, why would there be one? If it can't be seen in charts, then why might there be suggestions of one in the making?

 

[trefoil]

Can't see it. Island nations don't tend to be joiners. My impression of the Brits from my short vacation there last year is that they are very attached to their island, and already resent the inroads the EU has made into their sovereignty. Going beyond what they've already given up is going to be a very very tough sell.
Good thing too.

 

[forestfire]

Even though the Prince of Darkness wants GB to ditch sterling the power rests with Crash Gordon and he is too much of a control freak to let go. The decision is political at the end of the day.

As for there being no bottom in sight, my contrarian side kicks in when I hear such bearishness. When the charts show no support, it doesn't mean that support won't be found. What about when the Euro hit all time lows against the Dollar soon after it's inception? There was definitely no support present on the charts but it has rallied quite a bit since.

No-one need convince me of how shit things are in the UK or what a mess Crash Gordon has made of the public finances. I just don't see that things are so much better elsewhere.
I think the pound will survive and bounce from here. & yes, I am talking my book...

 

[JSSPMK]

Quote from forestfire:


What about when the Euro hit all time lows against the Dollar soon after it's inception? There was definitely no support present on the charts but it has rallied quite a bit since.

That was a new currency, apples & oranges ImPO. But let's not mix retracements with reversals also.