The pair has tumbled in Asia only to spike back up 7 Oct
I've got no further info to add in terms of explanation but it was more than just the Hollande comments. Farcical to suggest that was the reason.
The truth is we may never know and in essence it's history now anyhow. We can't trade backwards, in life or forex. I've been saying for a long while now that the vulnerable side was the downside and suggesting to sell GBP rallies and remain core short.
I hope some of you made a few pips. The strategy remains intact and now we move forward.
Currently falling again to look at 1.2400 I highlighted the strong offers at 1.2480 and 1.2500 earlier when we were above 1.2460 so some early pips to be banked.
Also to throw in the mix today are large option expiries at 1.2500 and I'm hearing that someone stands to book a £2m profit if we're below there at 14.00 GMT. They'll be hoping for some strong US NFPs to help keep a lid on it but at 1.2380 as I type it looks like the market's helping already.
Strong demand into 1.2350 the next line in the sand.
