I started building a long position on Friday and managed to get into
the market at some favourable levels, albeit with a fairly small
position. I’m hoping that the market will consolidate now above 1.5650
and that we get an initial sharp short-covering rally towards 1.5950. I
will look to trade the edges of this range with a bullish bias.
EUR/GBP may have a bit more topside if it can break above .8000,
40/50 pips maximum imho, and once this pair tops out we should see the
cable topside acceleration gather pace.
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