I step away for an hour or so and look what happens !
Lucikly/wisely I sold my 0.8331 longs at 0.8370 after running out of steam ahead of 0.8380 as per my post here
Looks as though the month-end buying was completed yesterday and now I’m not so sure about being long.
We triggered the stops to 0.8317 and there is more decent demand between 0.8300-10 as I highlighted. I haven’t jumped straight back in just yet with cable looking so wanted too with its sharp rally this morning to 1.6546 and currently still 1.6538
I’m not hearing of any prime movers so we must assume GBP-pos month/year-end flows across the board given the price actions elsewhere too.
ADD: I’m now hearing of fix-related EURGBP selling adding weight to the move lower
I said we’d see some action but that it would be scrappy again and I hope you’re the right side of it.
