- Short GBP/NZD: GBP remains weak on the crosses and looks likely to stay that way. EUR/GBP looks primed to test decent technical resistance levels near .7400 and cable has been consolidating below the psychologically important 1.50 level. It’s a tough ask to buy either EUR or USD in the current environment so either the NZD or CAD look like a better option. Stay short GBP/NZD or sell any s/t rallies back towards 1.9500.
- Sell USD/JPY rallies: The end-of-financial-year in Japan is only 1 week away and past experience suggests that USD/JPY will encounter plenty of corporate sellers as the deadline approaches. Using any 50-pip rallies as intraday selling opportunities is my favoured approach.
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