We're seeing GBP sellers return after the post-data rally 20 July
GBPUSD currently 1.2980 again after failing to get back over the (now pivotal given the pre-data tumble from there) 1.3020 area. EURGBP back up from 0.8834 lows to post 0.8861.
Seemingly demand on this pair coming from large option contracts rolling off at 14.00 GMT.
One hot Summer's worth of clothing purchases doth not a great economy make. Once again the algos have made the most of it though.
Great two-way business again to please both GBP bulls and bears.
I know which side of the fence I remain though and will continue to sell GBP rallies/play from the short side.
