Pound perks up like Easter Bunny ears

Author: Mike Paterson | Category: Forex Orders

Ok, it’s all relative and there’s little flow ( and yes it’s a tenuous headline too!) but the pound seems to have picked up a couple of bids since I last looked in similarly thin conditions on Friday

Then cable was drifting below 1.6780 and now it’s back near the top of its recent range at 1.6806 with EURGBP similarly drifting back down to the 0.8220 support ( more behind at that 0.8200).

Elsewhere we have a similar story with rallies on GBPAUD to 1.8025 and GBPJPY to 172.43 but also finding a few sellers on the higher ground.

Expect GBPUSD sell interest still at 1.6815-20 and 1.6840-50 with stops above there

Buyers to re-appear 1.6775-80 and larger at 1.6750 with stops below.

Buy low sell high the mantra ever thus

GBPUSD H4

GBPUSD H4 April 21

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