Contrary to my thoughts after yesterday’s UK data I was saying to Ryan earlier, and to Mihai in the comments thread for trading ideas, that the price action felt different today
I booked a nice profit on yesterday’s pick up of EURGBP at 0.8448 selling them out at 8470 after I signed off here but was reluctant to go back in this time after this morning’s data
Ryan pointed out the support at 0.8440 that was capping cable, or indeed vice versa, and that has now popped as cable takes out offers to 1.5625
Good buying interest on the cross from 0.8425 down to 0.8400 as per my orderboard and this will have impact.
I’m looking to either buy into the EURGBP dip or sell GBPUSD depending on prevailing price action
Add: Just hearing that the sell-off in EURGBP was due to Goldmans closing out a long position
Definitely time to buy then !
