Still like overall look of risk trades, but it is Friday

EUR/USD has bounced back towards the upper end of its recent range and the AUD/USD has also recovered from the post-data sell-off which reinforces my belief that the market wants to be long risk trades. My trade-of-choice is to be long GBP and I see no reason yet to change this view.

EUR/GBP is consolidating recent losses and cable made marginal new highs overnight. GBP/JPY is also in consolidation mode and my shortish-term target remains 174.00.

Friday is often risk-off day but as I don’t think the market is really long of risk just yet, I’m guessing that today might be a bit different.

Good luck out there and TGIF.

  1. Good morning to you Sean. Congrats on the GBPJPY trade :). I’m short euro ( think it’s a good value with stop over 1.3740 ahead of GDP ) , short kiwi ( i’m developing a crush on it 🙂 ) and still long usdjpy from 101.30 ( waiting for the uptrend again ). On holiday for now but still , TGIF. Good luck today.

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