GBP: Liking this short trade more and more

  • Cable: The break back below 1.5150 has this pair looking decidedly heavy in the short term. Support is initially reported at 1.5065/70, so maybe book some initial profits near there and re-sell rallies back towards 1.5200.
  • EUR/GBP: The market is reportedly quite short and the inability to maintain bearish momentum below .7000 is an interesting indicator.
  • GBP/AUD: This is my favourite way at present to play the short GBP card, and if support levels near 2.0800/25 break, then we could be in for a dramatic retracement of the 30-month bull trend.

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