A soggy session so far for the pound but that's not the whole story 5 Dec
Well, if those last comments were intended to placate any fears from yesterday's huff n puff and ultimately the DUP decision to put the mockers on any Brexit Irish border deal ( I did warn you dear readers) then it's failed.
GBPUSD breaks down through 1.3400 triggering stops to post 1.3371 in a rush as EURGBP takes out 0.8850 offers/res and GBPJPY falls further to test 150.50.
After all the political positioning and peacock-suiting, similarly portrayed by some of our readers' comments in yesterday's threads, we've now had yet another reality check. That's all. Nowt more, nowt less.
We're still ranging and there's pips to be had both sides of it. I'll continue to sell rallies and job back in the dips, others of you will prefer the other side of the play. That's all well and good but let's stay real. We're trading tightly for the foreseeable future so let's stop the hype and silly talk about 1.25 or 1.40-45. It ain't happening anytime soon.
As they say, for other reasons, no need to look at the mantle-piece when you're stoking a very good fire.
GBPUSD currently back to 1.3390 with GBPJPY 150.85 and EURGBP 0.8849 from 0.8869. Good two-way pips to be had. What's not to like?
