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?
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?
I’m like you PK so I’ve left it alone. Plenty of intraday vol in CHF, GBP and AUD to keep me interested until I can get a better feel for JPY
morning Sean,
move on the eur/gbp might be capped due to outflow from japan into eu?
Still no strong evidence that the big Japanese investors are headed overseas, at least that’s what the big bank analysts are saying
For EUR/GBP traders, we have some stops at 0.8390