• Jury still out and tight ranges continue

    The guessing games continue across a number of themes as we've discussed and currencies are still mostly ranging.

    GBPUSD has been down to look at 1.3150 helped by some GBPJPY supply after creating a cap at 1.3220 in the meantime. EURGBP has been underpinned again by the GBP selling but still can't get through the 0.8620--30 area

    I remain GBP bearish overall and continue to rally-sell then buy the dips while respecting the current demand. I've also pointed out that equally there are plenty in favour of buying dips at the moment too on Brexit-led conjecture so I continue to see good two-way business. UK data risk this morning at 09.30 with the key Services sector PMI but Brexit is still the bigger picture. Let the algos do their work and be poised with entry/exit levels as always.

    EURUSD is also ranging and looking soggy having fallen to 1.1316 while USDJPY looks underpinned still with some Japanese importer demand notable but equally struggling to make head way higher helped by some risk-off JPY demand.USDCHF continues in a tight range with EURCHF also still tightly bound.SNB ever watchful.

    AUDUSD remains tightly bound suitably unfazed by the RBA's rate decision and comments while USDCAD continues its journey higher to break recent ranges and posted 1.3346 led by that awful Canadian GDP data on Friday and softer oil prices since.

    Fickle Forex markets ever prevailing so be ready with your entry/exit levels and orders as always.

    Have a good day one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 08.35 GMT

    GBPUSD 1.3182

    EURUSD 1.1330

    EURGBP 0.8594

    GBPEUR 1.1635

    GBPAUD 1.8640

    GBPCAD 1.7590

    USDJPY 111.93

    EURJPY 126.87

    GBPJPY 147.63

    AUDUSD 0.7078

    EURCHF 1.1344

    USDCAD 1.3341

    USDCHF 1.0008


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