GBPUSD is on the back foot again as we wait on the BOE 4 August 2016
The 1.3280-85 area has provided good support this week and we're testing it again now as traders try to second guess the BOE.
Earlier in the week we've seen short covering but with many still looking to sell rallies and that's still the trade for me.
Given the decent support/demand down here though it's advisable to take some money off the table. A break below 1.3280 should herald a look at 1.3250. Currently back to 1.3294 as I type after lows of 1.3281. Strong sell interest into 1.3400.
Decent EURGBP demand noted but offers around 0.8385 capping the rally. More noted into 0.8400.
Order boards on their way.
