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EUR/GBP: Booking 80 pip profits near .7870

I could try and finesse this a bit more and sell 10/15 pips higher but I have bigger fish to fry as I think the USD is in for a sharp reversal and that the commodity currencies will fare best. I had been watching resistance near .7890 and as it’s basically held firm, I will take my profits (on a small position) and concentrate on Aussie and Loonie.

I think in the bigger picture we may now see a return to the race to the bottom between the big 3, USD, EUR and JPY, and the GBP, CAD and AUD outperforming across the board.

 

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