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

Plenty of action in GBP before and after jobs data

A big hedge fund started buying cable about 10 minutes before the jobs data and you can draw your own conclusions there. Stops were tripped above 1.5770 after the numbers were released but EUR/GBP bids below .8390 helped stem the GBP rise.

Possible double-bottom on daily cable chart with a neckline now at 1.5750.

  1. Not sure yet how genuine is this breakout Sean , follow through seems rather weak . I would rather wait until end of day to put a decisive stamp on this one. Still looks suspicious to me that serious players would load themselves long with just one week before infamous Fed decision. I still like the EURGBP long though :).

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