It’s oh so quiet, as Bjork once sang, with EURGBP and GBPUSD impacting on each other to produce a grinding halt as I outlined earlier in the orderboards, and EURUSD glued around 1.3620 with the 1.3600 barrier option demand preventing any move lower for the moment.
Times like these normally pre-empt a more dramatic period of action and I still believe that the pound comes lower still, given its lack of any real rally so far, with GBPUSD looking to test sub 1.6700 and EURGBP up to the 0.8160 area
Something eery in the shadows lurks in many of the pairs ahead of key levels, with USDJPY and USDCHF both underpinned but being capped too by strong offers.
We shall see, and in the meantime I’ll carry on with the wrap.
Play nicely out there
