Currency market... € vs £
Discussion
Hi guys
any currency experts? I'm looking to transfer a 5 figure sum of GBP to € soon...... or not! I'm looking at the current exchange rates and they are really bad, where the Euro gained a hell of a lot of ground vs the GBP in the past few months.... I'm in no rush but anyone thinks we could get back to pre 2008 exchange rates any time soon? (£1 = €1.4 ish) ??
any currency experts? I'm looking to transfer a 5 figure sum of GBP to € soon...... or not! I'm looking at the current exchange rates and they are really bad, where the Euro gained a hell of a lot of ground vs the GBP in the past few months.... I'm in no rush but anyone thinks we could get back to pre 2008 exchange rates any time soon? (£1 = €1.4 ish) ??
I would change the money in several smaller amounts over the next 12 months starting with now, so you iron out any peaks/troughs. The Euro will only get stronger IMO since most of the Eurozone countries with large economies are doing very well compared to the UK (shown by the strengthening of the Euro over the last few months).
To get to pre 2008 (68pence per 1 eur) levels any time soon would take something absolutley catastrophic.
The up trend from mid 2007 is holding very consistently and we have seen a sharp bounce above it since the middle of February. We are at a resistance level here from the early November high so keep an eye out to see if it can break it and go on to the major high at 89.41 (pence to buy 1 EUR) or if it falls back to the mid Feb trend at around 87.5 or the long term trend at around 84.
Either way, I don't see it going significantly lower any time soon
Hope this helps
The up trend from mid 2007 is holding very consistently and we have seen a sharp bounce above it since the middle of February. We are at a resistance level here from the early November high so keep an eye out to see if it can break it and go on to the major high at 89.41 (pence to buy 1 EUR) or if it falls back to the mid Feb trend at around 87.5 or the long term trend at around 84.
Either way, I don't see it going significantly lower any time soon
Hope this helps
allgonepetetong said:
To get to pre 2008 (68pence per 1 eur) levels any time soon would take something absolutley catastrophic.
The up trend from mid 2007 is holding very consistently and we have seen a sharp bounce above it since the middle of February. We are at a resistance level here from the early November high so keep an eye out to see if it can break it and go on to the major high at 89.41 (pence to buy 1 EUR) or if it falls back to the mid Feb trend at around 87.5 or the long term trend at around 84.
Either way, I don't see it going significantly lower any time soon
Hope this helps
The up trend from mid 2007 is holding very consistently and we have seen a sharp bounce above it since the middle of February. We are at a resistance level here from the early November high so keep an eye out to see if it can break it and go on to the major high at 89.41 (pence to buy 1 EUR) or if it falls back to the mid Feb trend at around 87.5 or the long term trend at around 84.
Either way, I don't see it going significantly lower any time soon
Hope this helps
I thought so, was looking at 10yr trend on xe.com website, i think if I get to 1.20 I'll be lucky and I'll change all the £ then! Will hold for a while though methinks!allgonepetetong said:
What's your time frame to complete the transfer?
haven't really got a specific one, I'm selling my house (complete on 6th April) and although it's REALLY a good time to buy in Italy (market much slower to react than UK, so slump has been going for the past 2 years and prices will probably stay bottomed out if not even decrease for the next 6-12 months anyway) I don't have any specific urge to move the money immediately...We're in a long uptrend and you should never bet against the trend, which says in the long run it's going in the opposite way you want it to.
You could spread out your trades to get some price averaging by looking for lows and transfer equal amounts along the way.
Look for a retracement to 84.50. I wouldn't do anyting until then.
I'm not an expert so anything I say shouldn't be taken as read, you'll have to make your own decesions I'm afraid.
You could spread out your trades to get some price averaging by looking for lows and transfer equal amounts along the way.
Look for a retracement to 84.50. I wouldn't do anyting until then.
I'm not an expert so anything I say shouldn't be taken as read, you'll have to make your own decesions I'm afraid.
allgonepetetong said:
We're in a long uptrend and you should never bet against the trend, which says in the long run it's going in the opposite way you want it to.
You could spread out your trades to get some price averaging by looking for lows and transfer equal amounts along the way.
Look for a retracement to 84.50. I wouldn't do anyting until then.
I'm not an expert so anything I say shouldn't be taken as read, you'll have to make your own decesions I'm afraid.
thanks, appreciate the suggestions, another view is better than none You could spread out your trades to get some price averaging by looking for lows and transfer equal amounts along the way.
Look for a retracement to 84.50. I wouldn't do anyting until then.
I'm not an expert so anything I say shouldn't be taken as read, you'll have to make your own decesions I'm afraid.
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