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Pound on the back-foot again but still meeting dip demand

Another soggy morning for GBP pairs 11 Aug 2016

Further to my earlier post re the GBPJPY selling we've now seen the strong 1.2950 demand chewed through and stops I also highlighted triggered to 1.2935 just above the next tranche of bids at 1.2930

Currently back to 1.2957 with sellers now expected initially into 1.2970 then 1.2990-1.3000. Demand 1.2930 and larger into 1.2900 and I remain a rally seller ( no surprises there then )

EURGBP has taken out decent supply around 0.8600 to post 0.8611 ahead of the post-Brexit highs of 0.8629 before fading back. Demand around 0.8600, then 0.8585 with larger interest into 0.8570 still. I remain a dip buyer ( ditto no surprise comment. lol)

Hey, who knows , one day before I leave these pages I may put out a recco to go long GBP ( but don't hold your breath!)

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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