Category in GBP crosses

EUR/GBP: Should provide some leads today during European trade

There are reportedly some very large stop-loss sell orders below the market, under .8460 I’m hearing, and these could prove magnetic during European trade. The EUR is trading with a heavy tone, being dragged lower against the AUD and the USD, and with the market focussing again on the option-book activities of one particularly large

Quiet start to interbank trading week; levels to watch are….

Not much happening so far this morning and we are still trading around NY closing levels from Friday. Interbank dealers have a bearish bias in USD/JPY this morning which suggests that order books may be slightly skewed to the downside. Important support in my opinion lies at 93.40/50. AUD/JPY still hanging around the important technical

EUR/GBP: Much more likely to fall in medium/long term

Not that I’m recommending that anyone take a position in this ‘tortoise’ of a pair, but if you do see any technical set-ups which favour the bearish side then I think its worth consideration. One professional trader gave me a scenario recently which could easily come to pass. The ECB will take over the stress

Permission please to scream and be generally annoyed

AUD/JPY in particular was screaming at us that a base was close yesterday. It always looks it’s absolute worst right at the bottom and I’m pretty sure we saw an important base happen yesterday. Presuming the big hedge fund clean-out is done, I think we can get back to normal market conditions and start selling

GBP/CHF: Exiting at break-even; think timing is wrong

I think these are perfect markets for intraday swingers with 200 pips readily available on almost a daily basis if you can pick the right pairs and wait patiently for the correct opportunities. EUR/JPY looks to me like a classic ‘sell-rally’ proposition and if it’s going to turn lower then I’m best to stay out

USD/JPY weakness affects all other major pairs

I think they are called ‘no-brainer’ trades for a good reason and yesterday morning’s open near the previous pivot and 50% retracement (see chart) in USD/JPY offered exactly such an opportunity. I didn’t expect a 300 pip fall from there but obviously the market got caught long again. The correlation between US interest rates and

Cable: Very heavy turnover reported overnight; 1.5150/1.5370 range favoured

At least 3 of the big banks are reporting very heavy turnover in the cable overnight and the surprising thing is that it hasn’t moved. Longer-term players were also reported selling GBP/JPY, booking their profits after a very profitable ride. EUR/GBP resistance at .8590/00 remains intact. I think we may be in for a big