Once again I’ll reiterate that I’m long GBP against the AUD, USD and JPY and am totally biased in my opinions! With that rider out of the way;
- EUR/GBP is trading beneath a chart low at .8220 and a weekly close below would be a bearish event
- GBP/AUD has broken above daily highs at 1.5500 and a weekly close above there would be another GBP bullish event
- The strong basing case for GBP/JPY still applies and bullish momentum looks to be increasing
- Cable is the least bullish for now, but a break above 1.6165 would turn the daily chart bullish
- The fundamental picture is improving
- UK still printing less than US, Europe and Japan
There are times to be short of GBP, this is not one of them!
