Not only ECB failed to undertake central banking market sterilization to slower the strengthening of EUR in the market but BOE also failed to undertake central banking market sterilization by re-sterilizing back the GBPUSD. The current re-sterilization by the BOE will be very strong as supported by the sterilization undertaken by the BOJ on the GBPJPY and the SNB on the GBPCHF. At such, downward movement in short term could be granted with minor interruption by the market.
The Brownian motion stochastic confirms the equivalent band performance of the GBPUSD and the GBPJPY, GBPCHF and the EURUSD, EURJPY, EURCHF.
The Bank of England is the first practitioner of target zone currency band when the methodology advocated for OECD, IMF and BIS in 1982-1990 by collective global monetarists and economists and followed by the European Central Bank (ECB). It is integrated in to the existing Plaza and the Louvre Accord agreements and part of the Treaty of Rome.
GBPUSD is estimated to be under pressure down to 1.2800 in short term and the actual rate subject to her equivalent rate with GBPJPY and GBPCHF at their lower short term bands (average traded weighted rate - ATWR). At such, short trade from the short term high/low, monthly high/low, weekly high/low and daily high/low feasible.
The Brownian motion stochastic confirms the equivalent band performance of the GBPUSD and the GBPJPY, GBPCHF and the EURUSD, EURJPY, EURCHF.
The Bank of England is the first practitioner of target zone currency band when the methodology advocated for OECD, IMF and BIS in 1982-1990 by collective global monetarists and economists and followed by the European Central Bank (ECB). It is integrated in to the existing Plaza and the Louvre Accord agreements and part of the Treaty of Rome.
GBPUSD is estimated to be under pressure down to 1.2800 in short term and the actual rate subject to her equivalent rate with GBPJPY and GBPCHF at their lower short term bands (average traded weighted rate - ATWR). At such, short trade from the short term high/low, monthly high/low, weekly high/low and daily high/low feasible.
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Sterilization interrupted by slower asset disposal - who are off-takers ?