Another soggy day at the office for GBP pairs 12 Feb
GBPUSD down testing 1.3800 again with GBPJPY once again a prime mover and has now once broken down through 150.00 once more to post lows of 149.87 with USDJPY comatose around 108.60. EURGBP up to 0.8867 having found support/demand below 0.8850 earlier.
Global equity fragility, renewed Brexit concerns and uncertainty on timing of BOE rate hikes despite Carney's best (failed) attempts on forward guidance last Thursday all adding to the weaker GBP tones. BOE MPC's McCafferty might be able to stem the flow when he speaks at 16.30 GMT
I remain a GBP rally seller and see no reason to change my view anytime soon. I think any rate hike-related strength will be sold into as we have seen post-BOE. Bulls can continue to buy dips as indeed will I to take some money off the table.
GBPUSD with decent support demand between 1.3780-00 building again with larger into 1.3750 still.
Good two-way pips to be had still. Keep your on equities again
GBPUSD 1 HR
