GBP Trading Outlook
ORDERS & FLOWS: As mentioned above, solid demand is expected for the end-of-month fixing later on during the London afternoon session. Stops are also being reported on the downside, below .9245 and again below .9230.
ORDERS & FLOWS: Trailing stop-losses were the order of the day and heavy stops were triggered yesterday evening from .9310 through .9340.
ORDERS & FLOWS: Heavy trailing stop-loss orders from hedge funds are reported through .9340.
ORDERS & FLOWS: Most of the big order levels were tested yesterday but the fact that we have closed back above .9250 suggests that the buy orders were bigger. Not hearing many reports this morning so the big ammunition might have been spent already.
ORDERS & FLOWS: There are big orders either side of the AUD/USD which are ensuring the present range-trading mode; option barrier protection ahead of 0.9150 is expected to be very firm and hedge funds are selling just above 0.9250. Stop-loss buy orders are expected above .9260.
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