GBP crosses

South African miners weighing up possible pay deal

This could have some impact on the GBP because the GBP was sold earlier this week as a proxy trade for the illiquid ZAR, which was getting hammered across the board. Now if the miners agree to a pay deal, this should stabilise the ZAR and lead to some of those GBP shorts being taken off the table.

It’s been one of the¬†slowest trading days in recent memory so I’m packing it in for the day, Auf Wiedersehen and see you in the morning.

  1. Hi Hitesh, yes indeed very good to hear from you. I think EUR/GBP is likely to fall back below 8000 and EUR/USD shud be supported near 12800 so I prefer to buy cable dips, like yu say towards 15950 looking for possible 200 pip rally?

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