The GBP bailout after the UK data has run into the support around 1.6855-60 and holding for the moment after 1.6862 lows, understandably given we were testing range highs prior to the release
I’m square again but still prefer to sell rallies on the pair and do believe we will see it lower, but as Ryan highlighted as well as the orderboard there’s decent support all the way down to 1.6800.
EURGBP is confusing me a little at the moment but I would expect some consolidation around these levels before we see whether recent patterns (weaker euro, stronger pound) will resume.
Elsewhere USDJPY’s retreat to 101.50 from 101.76 will have disappointed a few longs but still got support in the dips as does USDCHF
I’m sitting it out today now as I’m away early, and will look again tonight/tomorrow. Wrap on its way shortly.
