Central bank buyers were seen on the way down in the 1.3110/15 area but central bank sellers filled them IN. Why we provide cannon fodder for these guys, I’ll never understand…
On the technical front, the 10 and 21 day averages are set to cross, a move which could bring some profit-taking from model funds that are long and fresh shorts from those that are square. Many model reset for the day at 15:00 GMT, for what it’s worth.
