I’d be pretty annoyed if the cable were to fall back to 1.5500, especially as its been ranging for the last few months. As I have a reasonably sized position, I’ve sold partials at 1.5750 and will look to sell more at 1.5800 hopefully. My worries are that EUR/GBP breaks above .8360 in the short-term and that would trigger lots of stops I think. I’m also a bit concerned that China may have a strangle on the EUR/USD as they have started selling again overnight. Nobody ever went broke booking profits they say.
I’m off line for a short period but will be back soon.
