Category in GBP crosses

Early European flows

EUR/USD: Asian and Middle Eastern players were main sellers in early trade with the unconfirmed article from the German Bild Zeitung saying that the Buba and ECB were checking the legality of ECB’s new bond buying program being the most likely reason behind the selling. Real money funds and macro funds were notable sellers of EUR/GBP UK clearer

What the big Prime Brokers are reporting..

Not much is the short answer, though it seems many of the big hedge funds are quite neutrally positioned and are keen to get involved again: Short AUD is the favourite play for exactly the same reasons that I’m short, namely indecisive price action post-Fed, a stuttering Chinese economy, interest rates about to be dropped

EUR/GBP: I’m bullish but where is best entry level

The 4-hr chart shows that the uptrend accelerated off .7885 but stalled at .8110 and is now retracing. The 38.2% retracement is near .8025 and this was the approximate low last night. I’m watching the hourly chart for signs of a turn and if that happens then I’ll jump on board with a tight-ish stop. The

EUR/GBP: Bids/offers noted

Good two-way interest in the cross heading into the European open, with sell orders close by at .8010/15 and strong bids noted near .7965/70. All 4 bank reports that I’ve read today are bullish on this cross in the medium term, with expectations of a monthly high ranging from .8100 to .8230. Usually when all analysts are leaning one