The £ needs to break through the resistance at 1.19 euro, if it can do that then it could run to 1.25 euro's without much trouble and maybe towards 1.30 euro. Any signs to show the recession is nearing an end will see the ftse 100 and the £ move up quickly. The ftse 100 has restistance at 4500 and 4700, if it breaks out past 4500 and hits 4700 and fails to break out past 4700 the ftse is likely drop well below 4500 again.