• Cable doesn’t want to retrace it would seem and this consolidation near new highs is a very bullish sign. We still need to pick the right entry levels but I think we will see 1.75 fairly soon.
  • EUR/GBP is consolidating just above .8200 but the outlook is a little clouded as long as strong technical support near .8150 holds firm. It’s too risky to be going short at current levels, selling rallies is still the safer play in my view. Perhaps .8175/.8275 consolidation before the big break lower?
  • GBP/JPY looks to be breaking out of a wedge consolidation pattern and I prefer the long play here (though best avoided on BOJ risk-event day).