GBP Trading Outlook
Plenty of conflicting flows with the sellers coming out marginally on top. Looks like many big players are looking to sell the AUD on the crosses, especially against the European currencies, but real money bids in the AUD/USD will be very solid below .9550.
Real money bids reported near .9600 and more expected directly below.
More barriers are reported in AUD/JPY at 96.00 and bids are building 94.50/75. Flows have been reasonably light in AUD/USD but sell orders are reported .9725/50 and real-money funds are still reported on dips starting at .9630.
Real-money funds are still reportedly the main buyers on dips in AUD/USD. Obviously the barrier protection ahead of 95.00 in AUD/JPY is having a major impact, with large stops reported above 95.10. EUR/AUD bids near 1.4120/25 are proving very resilient. Stops reported below .9630 in AUD/USD.
Real-money funds are still the main buyers in AUD and it looks like some of the bigger fixed-interest players are switching back into Australian debt. Profit takers are reportedly solid between .9700/20.
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