One minute EUR is rallying and cable is getting clocked…Next minute the dollar gets a boost across the board…There is not s great deal of conviction among traders on an intraday basis while from a more medium-term perspective, there seems to be a willingness to sell above the 1.3735 area.
That is a major retracement of the November /January drop. A close below that level today could see profit-taking pick up heading into the weekend.
