Category in GBP crosses

Plenty of action in GBP before and after jobs data

A big hedge fund started buying cable about 10 minutes before the jobs data and you can draw your own conclusions there. Stops were tripped above 1.5770 after the numbers were released but EUR/GBP bids below .8390 helped stem the GBP rise. Possible double-bottom on daily cable chart with a neckline now at

Cable: Still eyeing important resistance at 1.5750

Important resistance looming at 1.5750 in cable (see chart) as clean break-and-hold would raise possibility of a double bottom; Sterling is being underpinned by improving economic data and much improved market sentiment; I’m comfortable to stay long GBP against the EUR and the USD in the realisation that these are medium-term

GBP/JPY looking to test 156.90

Comments from the BOE’s Fisher in the Sunday Times have given the GBP an early boost to start the week. He was quoted in the Sunday Times as saying that policies were finally kicking in and business confidence is now quite striking. It’s amazing how confidence can become infectious so be careful about trying to

Intraday trading range expectations

AUD/JPY is usually one of the more active pairs and I’d expect further consolidation of recent bull move broadly between 90.90/91.60 (see chart); EUR/GBP should gravitate towards barrier protection at .8400; Cable buy orders reportedly solid 1.5565/70 but will struggle to break above 1.5620 in Asia; USD/JPY bulls might be a bit disappointed by the

Cable: Looks very constructive but needs to break above 1.5750

As you know I’m bullish on the GBP, long against both the USD and the EUR at present. I only sold a small amount of EUR/GBP and am looking for technical entry levels to increase this position. The levels in cable are much more clear-cut (see chart) and the daily chart continues to look very

EUR and GBP staying rangebound

EUR/USD looks technically toppy in short-term so long as 1.3425/50 resistance is able to hold; Bank reports continue to suggest that this pair underpinned by strong structural demand and will break higher once the speculators wilt; Cable back at familiar levels after Carney’s speech delivered nothing new; EUR/GBP (surprise, surprise) still trading around .8600. I’m

GBP: Plenty of two-way flows to end the month

EUR/GBP rose 40 pips yesterday on the back of M&A flow chatter; Asian Sovereign Funds reportedly bought GBP/SGD in size; Same types also noted buying GBP/USD dips at regular 15 pip intervals; End-of-month flows are expected to weigh on cable with USD-buying expected to dominate coming sessions. Looks like the GBP flows were pretty much

GBP outlook: Still looking strong on the crosses

The GBP has eased lower in early Asian trade after BoE Weale said further QE could happen under certain circumstances; Cable needs to break above strong resistance at 1.5750 in order to generate further bullish momentum; EUR/GBP maintains bearish bias whilst below .8600; GBP/AUD made a bullish break above 1.7350 and buying dips is preferred

EUR, GBP still looking quite strong

Any big move higher in EUR is likely to be driven by equity-manager flows according to bank research that I’ve read; Very important EUR/USD resistance levels remain near 1.3425 but with stop-loss buy orders likely above there, this level is a red-rag to a bull; On the crosses, EUR/GBP looks heavy whilst below .8600, EUR/CHF

GBP continues to make gains on crosses; EUR/USD set to test 1.3425

On technical side, EUR/AUD held important support at 1.4450 and bounced almost 200 pips; USD/JPY is stuck in neutral at 97.60 with several conflicting forces at play; Cable refuses to drop and the GBP was the strongest of the majors again overnight; AUD/USD should continue to trade between .90/.93 pre-general election but it looks like