Pound trying to make its mind up as we wait on US markets

17 June 2016, 13:05
Sherif Hasan

It's been a session of two-way business again for the pound 17 June 2016

Earlier I highlighted the decent offers/resistance between 1.4300-30 and dip demand on EURGBP and we've duly seen a retreat from 1.4312, and a rally, and another retreat.

GBPUSD currently 1.4238 with EURGBP back above 0.7900 after good demand around 0.7870 but still with offers/sellers lurking at 0.7910 and 0.7930 so we'll need some further impetus to break through. GBPUSD bids/support into 1.4200 with more at 1.4200.

I continue to prefer to play GBP from the short side but there's no doubting the two-way opportunity to be had right now.

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