It's been a good morning for GBP pairs and now we're seeing another rally
GBPUSD now up through yesterday's 1.2958 highs triggering stops to post 1.2978
1.3000 remains the big line in the sand and large sell interest awaits. As we've been discussing in the comments though targets are there to be it. The bigger the target the larger the potential to accelerate if broken given the increased level of stop-losses being triggered.
Still range trading though 1.2850-1.3000 until otherwise notified so this move higher will suit both bulls and bears.
EURUSD back up through 1.1100 as EURGBP holds 0.8560. Large options in play at 1.1100 today.
USD selling is not so notable at the moment so we can guess that GBPJPY demand is helping to keep USDJPY steady around 112.45. USDCHF also still at 0.9836, perhaps with the SNB interested at 0.9820 and 0.9800? Can never rule them out.
AUDUSD steady too as is USDCAD with both having decent size option contracts rolling off today. See link above for more detail.
Should be an interesting NA session.
