DislikedIt would help out the long side technical picture if we could get a close @5AM above 9774 - would be a very strong sign - The pair has completely retraced yesterday and then some, possibly flushing out many weak longs. I believe the GBP news should come out strong, with unanimous vote on minutes. We are at a good fundamental value(although a better price is possible) for buying as we are at a very good technical level for buying right now. With All of this speculative buying and selling, woud be hard o imgine that large funds wouldn't consider this as a possible opener level to move to shift some of their shorts.
Just got closed out of my position @25 but am looking to reenter agressively. Retracements happen fast and they turn fast. I'll be posting whenever possible, but I want to stay more alert, this classic down move on 4 hrs just has the characteristic of an opening railroad track and I am expecting a strong reversal on a bigger timeframe. Good luck to all of youIgnored
I agree - we could be back at 1.98 by the London open positioned to go either way depending on the data, I also think GDP will be strong [there has been immigration of 600,000+ over the last couple of years equivalent to 1% of population and nearly all working] and the vote on rate hike almost certainly unanimous because inflation right at top of permitted range any more and the Governorhas to send grovelling letter of explanation to the Chancellor.So we may be back up to yesterdays highs before end of the day.
