The cable bears amongst us have had a good run this week but it feels a little different at the moment and the bulls are prevailing again
I wrote this in the comments thread earlier with GBPUSD at 1.5695 and EURGBP 0.7192
"I think there is still some value to be had shorting again up here Jerry but not with the same gusto as previously this week.. it's worked well so far but impetus changing. may be better value to look for EURGP dip if you want to short pound".
Currently 1.5720, after 7-week highs of 1.5723, with EURGBP retreating to 0.7180 I shall keep my powder dry for the moment and see if we can get a further move higher for the pound before jumping back in
If we are going to see a general USD sell-off amongst all the equity/cross liquidation then being short straight cable doesn't offer the best value for the moment
Stay poised though because these are ever more fickle times