GBP crosses/Trade Ideas

Definite shift in GBP sentiment

The market has been short and bearish of the GBP for some months now but yesterdays GDP number seems to have caused a shift in thinking. I wouldn’t go so far as to say that an about-turn has happened yet, but I think we need to pay much closer attention to the GBP over coming weeks.

EUR/GBP is testing important technical support near .8400 and GBP/AUD is testing important resistance, as mentioned below. If both of these levels break then I think we can look at building some medium term GBP longs. For the really brave souls, GBP/CHF and GBP/NZD might be two interesting trades?

  1. Sean

    I am sick and tired of USD.JPY. It has worn me down over the past 10 days. On the one hand, I am afraid of a large sell off and on the other hand I am afraid it will run away especially if it breaks 100. What is your opinion about this pair?

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