We’ve broken the 1.6080 bids and ran through stops below to a low of 1.6055 and the selling doesn’t look like it’s finished yet.
The 27 September low at 1.6028 is in sight and offers at 0.8480 in EUR/GBP could help put the brakes on.
Update: Large stops said to be building on a break of 0.8480
In EUR/USD, real money is said to be behind the selling while a Swiss name is said to be behind the bids at 1.3565.
Update 2: As I write, cable goes into the bids at 1.6050, which are holding for now.
