GBP finding a few buyers in Europe 20 Feb
Talk on the streets that EU Parliament will call for the UK to have privileged single market access after Brexit.
GBPUSD had an earlier jump to 1.3980 on first hint of the news only to retreat just as quickly but now back up there again with EURGBP making a more consolidated retreat to 0.8835.
GBPJPY testing 150.00 as USDJPY holds gains above 107.00
Algo knee-jerk or something more substantial? Ours not to reason why, ours is just to sell and buy and I keep banging on about range-trading. Behind all the noise that's all we're doing.
GBPUSD up through 1.4000 as I type, GBPJPY 150.10 and EURGBP down to 0.8815 so it appears a few GBP shorts bailing for the moment but GBP rally sellers such as me will remain poised.
Next levels to watch/fade are 1.4020-30, 0.8800 and 150.30-50 or if momentum stalls prior.
