Category in GBP crosses

EUR/GBP: Taking profit on medium-term shorts

I’ve been short this pair for months but the fact that we’ve consistently stalled at a major technical support level near .8150 (61.8% retracement of .7750/.8810) must be taken seriously; I will re-instate if this level is comprehensively broken; I remain long and moderately bullish on cable but we may well see extended consolidation 1.65/1.68

GBP crosses hit hard as trailing stops kick in; GBP/JPY technical support at 164.00

GBP/JPY was the main mover yesterday driven by a carnage of trailing stops across the board; USD/JPY stops below 101.70 were indeed sizeable, Cable stops post-data were also significant and of course the cross then started falling like a stone once it cleared 167.50. Be aware that there is solid technical support in GBP/JPY near