Flows and Orders/FXWW News/GBP crosses/Trade Ideas

EUR/GBP: Stops triggered below .8290 in early interbank trading

I remember being on the receiving end of some dodgy GBP/DMK stops during early Monday morning trade over 25 years ago, and some things will never change. Some ‘brave heroes’ took advantage of non-existent liquidity to trigger stops in the EUR/GBP below .8290. I shouldn’t complain as it’s going my way, but the market really needs to come up with some better way of starting the week, rather than an 8am New Zealand start when no-one’s watching (rant-of-the-week out of the way early 🙂 ).

There were reports on Friday of good-sized selling interest in the cable towards 1.6400 and I’m watching price action closely as I’m looking for a time/place to start booking some partial profits on my long position.

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