Cable sits at 1.5290, very marginally firmer from a North American close Thursday down around 1.5265. Boy, given all the negative rhetoric surrounding sterling thought I’d be walking in to see cable sub 1.5200. It’s a funny old world, for … Continue reading
One of the oldest FX market adages and one of the truest. Sterling seems to fall harder than any other currency and it seems to fall for longer. GBP fell yesterday by over 2% against the JPY and by 1.5% … Continue reading
The collapse could come within weeks, the bow-tied billionaire says. Must have time decay on his options…
Weak January data not a surprise given weather and VAT hike EUR/GBP is to the moon with Cable weak but EUR/USD triggering stops and testing the base of the broken triangle mentioned earlier. EUR/USD is at 1.3530, GBP/USD at 1.5270 … Continue reading
Central banks continue to imbibe on EUR/USD and Cable, adding to their groaning positions. Stops from day traders are clustered in the 1.3520/30 area and look a bit vulnerable. As we’ve seen in recent sessions, selling into the rallies still … Continue reading
1.5270 is the 50% retracement of the 1.35/1.7042 rally and that level has been penetrated on an intraday basis. A close below that level will likely bring further weakness in the coming days from long-term investors. 1.5000 barriers are sure … Continue reading
09:30 GMT: Merve the swerve before Banking Commission hearing on the future of banking. No wonder sterling’s struggling this morning. Everytime he opens his gob it gets clobbered. Initial support, as mentioned earlier, 1.5300/05.
Cable has given ground overnight, presently down at 1.5330 from a North American close Wednesday up around 1.5400. Stops tripped on move through 1.5345. Supports next at 1.5300/05 and 1.5275. Stops likely below both levels. Cable could do with a … Continue reading
This pair looks to be in danger of some more significant falls. There is little in the way of any major technical support now until 131.50. As Nicola mentions there is a 61.8% at 135.60 which should be the next … Continue reading
Dealers tell me that a GBP/JPY selling flow hit the market at 139.00 and the pair has fallen 40 pips very quickly. GBP sentiment remains quiet bearish. Important cable support at last Friday’s 1.5345 low.