• Pound wobbles again. China data impresses.

    Another 24 hours that has seen little change of real note but the Pound has found a few sellers again on more Brexit concerns despite better UK jobs data while Chinese GDP and Industrial Production impressed, whether actually accurate or not.

    GBPUSD finally fell through 1.3050 to test the next line of bids/support at 1.3020-30 before holding and rallying back above 1.3060. EURGBP remains underpinned by the general GBP supply/EUR demand scenario.

    I remain GBP bearish overall and continue to rally-sell as my preferred strategy amid the Brexit chaos. Plenty more to come now in the weeks ahead and the algos will continue to feed off the headlines. No change to this paragraph any time soon. Data risk today at 09.30 with UK inflation data.

    EURUSD continues to trade tightly but underpinned still and has tested the key 1.1325-35 resistance area again. USDJPY also looks underpinned still but rally sellers still poised above 112.00 as we've been seeing again. USDCHF remains underpinned helped by some better risk sentiment and as EURUSD firms but ranging tightly still and EURCHF continues to find support now above 1.1350 with the SNB ever-watchful.

    AUDUSD remains underpinned overall and got a nice kick higher after the better Chinese data while

    USDCAD has retreated after that failure around 1.3400 again helped by firmer oil prices.

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

    Have a good day out out there one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 08.30 BST

    GBPUSD 1.3056

    EURUSD 1.1316

    EURGBP 0.8667

    GBPEUR 1.1537

    GBPAUD 1.8140

    GBPCAD 1.7393

    GBPZAR 18.2082

    GBPHKD 10.1254

    USDJPY 111.99

    USDZAR 13.9474

    EURJPY 126.69

    GBPJPY 146.18

    AUDUSD 0.7198

    EURCHF 1.1396

    EURHKD 8.7765

    USDCAD 1.3323

    USDCHF 1.0070


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