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Neil, I lost interest in trading this a while ago but still kind of keep an eye on it. I am exposed to it somewhat in my 'real life'. I note that news today points towards a modest GBP rally. SocGen reluctantly acknowledge some chunky write-downs. German economic output down 5% over 2009. BoE's Andrew Sentance hints that interest rate rise to come soon. This is all very predictable stuff. The French banks have been (abetted by the Fr Govt) very slow to admit exposures, Germany has remained the key hope of the Euro-zone but their export and home markets are weak and FX rates mean their prices translate badly. It should come as no surprise that interest rates will return. Of course, less confidence in Euro spells Dollar rally.

NeilJ, 8 times out of 10 you will do fine with such a range but if you don't recognise and plan for a potential break-out you could be hung out to dry. There could easily be excursions from the range towards 0.85 or 0.99.

A to your Q! The significance is that there has been no unexpected news for a while, the pair have stagnated and everyone is waiting to see what develops.

Hi NeilJ, I would say that, broadly speaking, EUR/GBP has been stuck around 0.89 for a lot longer than that. Many months in fact. Most people would accept that the GBP will eventually gain strength but that depends upon the factors which have been discussed before, i.e clear signals that the UK is emerging from the recession followed by a reduction of quantitative easing from the market and raised interest rates. The exchange rate pair will react to things like the general election and plans for reduction of the budget deficit, reduction of public shareholdings in the banks.

That turned out okay. Currently 1086. I'll stay in, with a target of 1110.

Oh, it's all going Pete Tong. 1075 now. My stop is at 1073 from a modest 1078 entry.

I'll just talk to myself then! Do you think 1077 will hold then? Yes, we should see a reasonable bounce off that back up to 1100 at least. The indices rose pretty strongly this arvo on positive homes news from the US but soon ran out of steam.

Well, I am surpised that no-one has anything to say on a day when gold is priced at just over $1100/oz. I see that all of takeiteasy's posts have disappeared. This makes rather a nonsense of some threads.

TIE - a straight question - Do you still see gold priced at least $1250 by the end of the month? It sits at around $1130 just now.

I am long on RBS from 33p

KiS, I would be feeling a lot better if IG Markets had not ransacked my account and closed many of my shorts right at the peak yesterday. I lost about 50k when they unwound my BHP B, DAX, Eurotunnel and FTSE shorts at silly prices, e.g. DAX @ 5822. They didn't clear me out but I was very disappointed. Their timing put me in mind of the "a banker is someone who will lend you an umbrella when it's fine but take it back if it rains" quote. I should have topped up my account but they send those reminders all the time so I had stopped paying attention to them.

Euro getting whipped - EUR/GBP @ 0.884.

Weird; DJIA @ 10400, DAX @ 5800, FTSE @ almost 5400 yet no-one's had anything to say on Indices for many days now. One of the main news agencies has the following agenda going forward: GLOBAL ECONOMIC RECOVERY i. Bills come due: deficit fallout, social pain & unrest, unemployment ii. Exit strategies: end of cheap money, inflation becomes policy of choice iii. Recovery speed: risk of double dip, diversions among regions, access to credit iv. Markets: dollar crisis, stocks rally is fool’s gold, C&E as inflation hedge

I am surprised that no-one has felt like replying to this opener despite a fair few views. I know that most of the LSE users are focused on tips and quick bucks but long-term forecasting, historical references or policy debating may interest a few more thoughtful souls. Paranoia Blue, where are you? I also believe that seeing the big picture, understanding overall trends is more important, profitable and impressive than blinkered day-tarding (spelling deliberate).

After a strong rally over the last month or two, EUR/GBP is retracing hard - nearing 0.89 now.

You bet, Mark. We've got a 3 dayer here - Monday off for some reason.

DAX at 5400 - rock and roll!

Yes, get some sleep Mark of Arabia!

DAX is nearing 5630, going as low as it has been for 3 weeks.

TiE, No, I wasn't suggesting for a minute that gold is about to tumble to sub $700 and markets will continue rallying hard and fast. It seems that you have trouble reading - set only to transmit. Maybe that is how you missed Bahman echoing my sentiments moments later. Big deal, you have got used to the current circumstances and, like a lab rat, know that if you press button X followed by button Y you shall have your reward... until the test changes. I am mindful of a larger picture developing. Rather than, as you called me, "a bad trader in denial", I am someone who derives most of his revenue from oil price strength and secondarily that of the Euro. If the market continues this hollow boom and the Euro stays strong I am 'laughing' but I won't actually be laughing. I got into the trading that we discuss here when oil and the Euro started to look overblown $150/bbl and €0.96/£1 as a form of hedging what I thought was set for some readjustment. I am not someone who rests on his laurels and I won't be ROFLing with you.