It looks like a sell, next time it reaches resistance.
Buy the Euro and sell the Pound.
* * * * * J B K * * * * *
San Francisco
The U.K. trade deficit widened in March as imports jumped the most in six months, led by demand for goods from cars to engineering equipment.
The goods-trade gap was 7.5 billion pounds ($11.1 billion), compared with 6.3 billion pounds in February, the Office for National Statistics said today in London. The median of 13 forecasts in a Bloomberg News survey was for a reading of 6.4 billion pounds. Imports jumped 5.2 percent to an 18-month high, outpacing a 1 percent increase in exports.
The Bank of England is counting on a weak pound to boost exports and support economic growth it helped manufacturing jump the most since 2002 last month. The sovereign debt crisis in Europe has darkened the outlook for U.K. exporters at a time when domestic demand may come under pressure from measures to tackle the public finances.
http://www.bloomberg.com/apps/news?pid=20601068&sid=a8mUMTwqQr68
