GBP Trading Outlook
ORDERS & FLOWS: Asset managers have been dumping AUD/JPY indiscriminately, which is typical of a panicked market. Big AUD selling has also been reported against the EUR with one local Australian bank reportedly working through some AUD20 billion in sales against the single currency.
ORDERS & FLOWS: Obviously the market isn’t yet finished with its AUD selling and macro players were again noted sellers particularly against the JPY. There is talk of barrier protection ahead of .9500 in AUD/USD which could provide some support.
ORDERS & FLOWS: Heavy trailing stops were triggered above .9700 last night and this level is likely to provide solid support on any dips.
ORDERS & FLOWS: Not much to report this morning, as usual on a Monday. US investment houses were large sellers of AUD/USD above .9650 on Friday morning and they are still expected to be selling near there.
Go to The Sterling (GBP) Archive