For all sterling's recent virility, I think it is due to retreat in fear again before long, says Matt Shaw, at www.financialtrading.co
I have shorted around $1.63 this week and am targeting a return to $1.60. I would add to my short position on a drop below $1.615 and thereafter again below $1.60. I envisage an eventual bottom around $1.585, whereupon I might buy anew. However, if sterling closes above $1.63 by Friday 4 May, I will have to eat my words.