"I am bearish on gbpusd as it tried several times to break 1.618 and 1.623... and as a result gu is back again below 1.60.. Buyers will be fully confident if gu goes above 1.625 and so far it is not happening.. Gu so far totally in sellers hand below…"
"Because Jason, GBP interest rates aren't ready to see 1.5913 fall just yet, much holds it up, 2 year yields, forward market prices of future interest rate hikes, all the stuff I outlines this morning, 1.78 alone said it wasn't ready. Give…"
On the charts, the broader consolidation in USDJPY through 2013 looks like a mid-point pause on the way to a rebound back to the 2007 high (124.14). Expectations of an extension will improve above 112.63 (the ultimate retracement resistance derived from the 124/75 decline).Shaun Osborne & Martin SchwerdtfegerSee More
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