I have been in the money on this trade for a total of about 11 minutes and that is starting to grate. EUR/CHF is grinding lower and everyone I know is either long or square EUR/CHF, which is a bit of a worry. With cable and AUD/USD showing no signs of backing off, I’m reducing this position by half and will chop the rest below 1.0570. Break even on this trade is looking like an impossible pipe-dream.

Next please.