Flows and Orders/GBP crosses

GBP/USD: Interesting buyers noted but 1.75 by Christmas?

One of the big Prime Brokers is extremely bullish on GBP. They have been seeing some very large buying from asset managers, reserve managers and real-money accounts and these big players have been buying on every 50 pip dip. The PB thinks we could see cable near 1.75 before Christmas. Not sure what they’re smoking, but I’d like some 🙂

  1. Morning S, perhaps encouraged by the weekly closes above the 200 day ? I had an order to buy GBPAUD the other day and just missed my target. Wanted to buy nearer 1.5400 for a push through to 1.59+

  2. Interesting point Maji as many had ignored the aggressive China buying near 157 but I’m sure that’s what drove it higher. Your mention of China selling 16260 is first I’d heard so will keep my ear to ground for further mentions

  3. Morning old bean, my old employer is v v bullish on both cable and eur/usd which I don’t understand really in present climate. But if they’re right and then the RBA cuts aggressively, your 159 target will be solidly bid!!

  4. I got the run up from 1.50 to 1.53 and said ‘thankyou’….and missed the next swing….I have an oco order now at 1.5460 or 1.5640 and have a small long now….look at the daily and the 618 from 1.6285 and 1.4710 has so far held but I fancy a clean break to open upwards

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