The playing field is littered with GBP bears, sucked in by the typical weekend cavalcade of bad press for the UK economy and the pound…The move through 1.6350 tripped off a bunch of stops from short-term specs, pushing prices up to 1.6380 so far.
The fundamentals look poor as the market prices in further BOE quantitative ease, but the market has anticipated as much, making it a choppy ride for late-comers to the GBP bear trade.
Long-time readers know my feeling that Cable should carry a warning label like that on a pack of cigarettes. Warning: Cable has been proven hazardous to your P&L…
The charts are a mess and I have next to no idea where the next 100-pips will come in cable. You guys are on your own….
