I wouldn’t be at all surprised to see another push higher in the cable during London trade, with most of the big banks still reporting hefty short positions amongst their bigger clients. With sentiment swinging to neutral from bearish, trailing stops above 1.5200 could come into view very quickly. The big UK banks are reporting further stops up through 1.5230 but the flow guy has been exceptionally accurate in recent weeks and he insists that there will be plenty of supply between 1.5225/50. At least there should be some welcome volatility after very slow Asian trade.
