Offers:

  • 1.6992/95/97 – sellers at the recent highs
  • 1.7000 – strong offers and an option barrier, buy stops above
  • 1.7010/20 – medium-sized offers
  • 1.7044 – strong offers around the 2009 high
  • 1.7050 – another option barrier

Bids:

  • Some bids at today’s 1.6948 low are currently under threat
  • 1.6930/20 modest bids
  • 1.6923 – Asian low
  • 1.6900 – medium demand

There’s plenty to think about if you’re trading this pair ahead of the weekend. I think the market has played its hand today and 1.70 held so the risks are to the downside. I bought this pair on the Carney headline yesterday and covered half earlier, I won’t buy more until 1.70 breaks.