The recent range top at 0.7865 that we’ve highlighted here on many occasions has just been breached in the wake of the BOE inflation report/Carney comments
Stop loss buying triggered a move to 0.7879 just ahead of the next tranche of offers at 0.7880-85 and more at 0.7900-10. So much for the large sell order earlier down to 0.7802 from 0.7845
GBPUSD took out the 1.5850 bids but more noted into 1.5840 and 1.5825.
Currrently 1.5860 and 0.7866 and good two-way business for bulls and bears in the last 24 hours as long as you’re not getting caught at the wrong ends of the ranges
