pound rates...down or up again

tatu | 07:48 Sat 25th Oct 2008 | Business & Finance

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no one has a crystal ball i understand that,buy ive watched the pound fall very quickly against some currencies..iwas thinking of buying overseas and i think i will have to re consider and hold off i think untill next year..can someone please give me advise,when is the best time for me to invest. thanks

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steven15

Update as of today
GBP/USD intraday: rebound in sight.
Pivot: 1.495
Preference: Long positions above 1.495 with targets @ 1.51 & 1.525 in extension.
Alternative scenario: Below 1.495 look for further downside with 1.485 & 1.4715 as targets.
Comment: the pair has broken above a declining trend line
Source: http://www.avafx.com/

Markets are extremely volatile. as regular intraday trader I would consider it advisable to wait till next year for investing.

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