I booked profits on my medium term cable long position as I don’t like the look of some of the crosses:
- EUR/GBP still looks heavy but there is super important support at .8150/60 (if we break below there then I turn GBP bullish again for sure);
- GBP/CAD is exhibiting severely overbought readings on my indicators;
- GBP/JPY has been unable to consolidate it’s bullish break.
The GBP trend is still bullish but we’ve come a long way. If you want to pick a top, GBP/CAD looks promising to me. If you are staying bullish GBP, then I’d suggest buying cable dips or selling a break in EUR/GBP.