We’ve gone well bid again on the back of the strong data but I’m getting a slight feeling of reluctance to really go for a big push.
As Mike detailed on the order board strong sellers at 1.5600/10 are in place and we’ve opened up on top of the 100 dma which is down at 1.5525 this is also the level for the 55 H4ma.
The topside has the well known 50 fib at 1.5604 and the upper channel line which is now at 1.5615.
Look for the overnight lows around 1.5530/40 to hold should we slide before the BOE and as always be aware of potential position jockeying closer to the announcement.
