Those who thought that when we peeked over 1.4000 in EUR/USD, we were going to blow out aforementioned sell orders up at 1.4020/30 and be on our way quickly to 1.4050 and above.
Yer, me neither.
Having topped at 1.4015, EUR/USD is presently back at 1.3990. Stunned mullet anyone?
Cable duly moved up and ran into a brickwall in the form of the aforementioned sell orders at 1.6295/00. We’re quickly back down to 1.6255.
EDIT: Russia noted seller of cable on this leg lower.