Thursday 2 September 2021
Variable risk sentiment prevailing as markets wait on the US jobs and wages data tomorrow as traders look for new clues on any imminent action by the US Fed. Some good two-way pips to be had meanwhile with no second-guessing required as we continue to range tightly.
Patience and discipline in trading are key as ever and not being greedy.
GBPUSD: The failure of 1.3800 again saw a test of 1.3760-65 and some pips banked in the retreat from the rally re-sells as we continue to range. I remain a rally seller while keeping an eye on EURGBP and GBPJPY as always.
EURGBP: Supported now at 0.8580-85 after another failure at the larger sell interest at 0.8600 which I've been highlighting this week. GBPJPY: 152.00 duly provided the cap and 151.60 finally broke on the retreat only to find support at 151.40. Ranging still overall.
I remain a GBP rally seller across the pairs but being patient as ever. These are risk sentiment markets and ever fickle so good/tight position management essential.
EURUSD: Holding at 1.1800-10 now after failing into 1.1850-60 but testing the topside again as I type amid generally softer USD tones. USDJPY: Duly capping into 110.50 and more re-sells made per my intentions noted here yesterday. Pips banked into 110.10 so I hope the steer helped. I remain a rally seller overall while still respecting the general dip demand.
Offers: 110.20, 110.35, 110.50, 110.65, 110.80, 111.00, 111.20, 111.50
Bids: 110.00, 109.80-85, 109.60-65, 109.50, 109.35, 109.20, 109.00 (large)
EURJPY: 130.20 now the latest support but that decent sell interest building at 130.50 I mentioned yesterday still helping to cap amid the variable risk tones.USDCHF: Still holding 0.9140 with the SNB ever vigiliant after capping at 0.9180 as EURUSD bounced off its lows and EURCHF reamining tightly bound after recent gains. EURCHF: 1.0820 now providing support with SNB shadow ever present. Dip buying still the preferred trade but not greedy in the rallies.
AUDUSD: Remains underpinned and 0.7350 now a decent support line amid firmer metals/better risk and where we have large option expiries tomorrow but capping at 0.7385 so far. USDCAD: Still supported at 1.2580 in the latest retreats but still failing at 1.2640-45 amid the underpinned oil tones and softer USD plays.
Let's continue to be careful out there in all things. Staying safe must be our main priority still.
Interbank rates: 08.43 BST
GBPUSD 1.3789
EURUSD 1.1850
EURGBP 0.8592
GBPEUR 1.1638
GBPJPY 151.73
GBPCAD 1.7369
GBPZAR 19.7337
GBPHKD 10.7416
USDJPY 110.03
USDZAR 14.3203
EURJPY 130.37
EURCHF 1.0842
EURHKD 9.2297
AUDUSD 0.7383
USDCAD 1.2592
USDCHF 0.9152
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