I’m still long the cross from last week below .7800 but it doesn’t feel right yet to be long of the EUR. I will raise my stop-loss to break-even for now and see how the market develops. Cable is now settling below 1.6000 but I think it’s getting to ‘cheap’ levels so I’m a bit conflicted.
On the positioning side, the market remains very short of this cross, which is one thing working in my favour.