Attention on GBP pairs as European trading gets underway 13 Nov
Brexit concerns and ongoing talk of knives out for PM May ( ntg new there but her position weakens by the day) proving once again how fickle these markets are, given Friday's rally.
Currently 1.3095 after 1.3091 lows with EURGBP testing 0.8900 again. Recent support/demand around 1.3080 and offers/res 0.8900-10 means we may have gone far enough for the moment given we are ranging but I still believe the Pound to be essentially flawed/vulnerable and will continue to play from the short side.
GBPJPY down to look at 148.50 with yen demand still prevailing too and 148.80 finally breaking. It was a support area that I highlighted on Friday and proved to be a good line in the sand for the Pound generally.
There are valid points to consider GBP longs in the dips too so take your pick. Just don't get greedy or too carried away on either side.
