FXWW News/GBP crosses/Trade Ideas

GBP, NZD remain in favour whilst others chop around

The trend has been very solid over the last few months with the market happy to buy the GBP and the NZD, and chopping and changing between the other major currencies. The EUR, CHF, JPY, AUD and USD have all had phases of weakness and of strength but as yet we haven’t seen one race ahead in the race to the bottom.

I’m going to stick with my long GBP play against the USD and the EUR and try to pick up some 150/250 pip swings in other pairs when all the stars align.

The RBA is not expected to do anything dramatic this afternoon, and most of the main pairs are tied in between big ‘order book’ levels.

  1. Morning Sean, well after 17 years we finally have another Shut down on our hands, usd/jpy is down 55 pips overall from its high, and gbp/usd up 60 pips over the past hour, looking at everyones attitudes this might just last for 2 weeks till the debt ceiling decision, or if their is a lot of public backlash then republicans might just go ahead and give congress the green light, in the the mean time, is 96 range possibly back on the menu?

  2. Certainly possible Abdullah and the USD looks to be sprinting ahead in the race to the bottom. Much bigger chance of USD/JPY falling 300 pips than rising 300 pips imho. Just a matter of timing as always

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