- Market is overall short of AUD and there will be heavy stops above .9100 in AUD/USD;
- Market is long of GBP and expecting some big buy flows today at the London Fix;
- What if the M&A flows don’t eventuate as expected and the AUD shorts keep getting squeezed?
Could be a chance for a 24/48 hour play here in GBP/AUD. Edge into a short position looking for a 200 mpip move lower later today to test 182.00?
Look for short-term resistance levels near 184.70 to cap any intraday rallies.