This comes from a friend in HK who normally has very good insights into upcoming flows. He has sold at .8650 with a stop at .8725 looking for a return to .8500 at least.
Must say I’m not tempted by this one. I’ve been getting my timing wrong in the GBP of late and am leaving it alone. Although I do agree with the direction, it’s getting the timing right which is proving very hard to do.
Note: FXWW888 reckons that long cable might be the way to play this idea, what with EUR/USD looking quite well bid? The cable has hurt me recently and I’m reluctant to jump on but I’ll keep a sharp eye on it during London trade and see if any opportunities arise.