If a week is a long time in politics it's a lifetime in forex
This time yesterday we saw the pound very much on the back foot with cable ultimately testing 1.5200 and EURGBP this morning posting 0.7475 bang on the offers into 0.7500
But what can't kill you makes you stronger and the wages/labour report earlier proved to be a good indicator of demand for the pound
Both Ryan and I noted the improved jobs picture overall and although wages came in under expectations it was still a decent number and better than last month
So now we've seen 1.5367 and 0.7422 in an impressive reversal and providing some good opportunities in a market sadly bereft elsewhere at the moment
Currently 1.5345 and 0.7435 I remain a GBP rally-seller still. Offers between 1.5380-1.5400 should hold cable again and demand into 0.7400 should be sound enough to support EURGBP
Good two-way business for both bulls and bears. What's not to like?
