GBP/USD has just charged to 1.6074 in thin dealings with traders saying yesterdays moves were overdone. Whilst there are sell orders seen in the lead into 1.6100 there are stops above up to 1.6130. Nothing large but anything is possible in a market that has no interest in fresh positioning.
3 Responses to “GBP/USD above 1.6070”
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AUTOREFRESH 
The price actioin on GBPUSD (and EURUSD) is very suspect … candle patterns, some trendlines & other things that normally indicatve where next – aren’t behaving as usual. Looks like this upthrust has been hit by lots of sellers … UK news in a bit so who knows what smart money is up to.
5 Scenarios for QE2 Decision: http://www.forexcrunch.com/5-scenarios-for-qe2-decision/
Thanks Frank i think Number 4 is the best one
for me at least 