GBP sellers still prevailing as we wait on North American traders and bots
GBPUSD now posting session lows of 1.3916 and EURGBP up to 0.8792 to continue the retreat from 1.4004 and 0.8762.
GBPJPY also a decent mover this morning and been playing out on both core pairs. Currently on session lows of 153.79 with USDJPY capping above 110.60 again.
I've mentioned many times before that GBPJPY is a favoured pair by hedge funds and we should not be surprised to see a move lower as GBP sentiment softens, for the moment at least. That ofc is helping to provide yen demand too.
I've taken some more money off the table after selling into 1.4000 but will keep a smaller short for the moment while we remain below 1.3950.
Support/demand into 1.3900 with EURGBP offers/res around 0.8800. GBPJPY demand into 153.50 so we're not going anywhere in a hurry still.
