Cable flow info is like gold dust. First thing this morning I read Sean’s comment that there were hedge fund sell orders up at 1.6150/75. And loandbehold we rallied early, got to 1.6162 and promptly sold off. We’re presently back down at 1.6135. That’s my money made for the day (oh no, I’ve let the cat of the bag. I’m only joking. I really don’t trade my own account…..honest. As if it’s anyone’s bloody business!!)
One can’t guarantee the sell orders will hold the topside forever, so probably a good idea to try and work out where stops may be hiding. I’d hazard a guess, without any confirmation, they’re lurking through 1.6185.