A decent session for GBP pairs 15 Feb
GBPUSD posting fresh session highs of 1.4078 as GBPJPY makes its way back up to look at previous highs into 150.00. EURGBP unhinging itself from 0.8900 and falling back to 0.8870.
Reports have been circulating that some EU officials are getting a little nervous about the strong stance shown toward the UK on Brexit transition period rules. Apparently pressure being applied behind the scenes on Barnier & Co to ease off a bit for fear that talks might break down completely.
I can't see that as the outcome but it does highlight the delicate nature of the talks and the fickle nature of FX in its response. Soft? Hard? Up? Down?
So can we expect the GBP love to continue ? I don't think so but I'm happy to continue sitting this out for the moment and remain poised to re-sell both USDJPY, GBPJPY and GBPUSD as has been my overall strategy for some time now as regular readers will know.
Timing is all in this game and after a decent run I'm in no rush/need to jump back in just for the sake of it. Remember, to make money consistently doesn't mean you have to be trading all the time.
That's a lesson that many traders both new and established would do well to heed. Here's what I have written on the subject previously.
Not getting in the way of one speeding train doesn't mean you can't be standing patiently for one going the other way though.
