Looking to GBP/AUD and GBP/JPY for some intraday trading opportunites

• Very little of note on today’s economic calendar and most interest will focus on the CNY after yesterday’s surprising action;
• The big GBP flows are most likely now complete so we can return to ‘normal’ activity;
• The market remains long of GBP but also still very bullish;
• The market remains short of AUD and JPY, and perhaps starting to lose patience;
• This suggests to me that we should look to the GBP/AUD and GBP/JPY for intraday trading opportunities and barring any new developments, I’d suggest a short-term bearish bias;
• One other pair worth watching is USD/CHF with large stops reported below .8850.

Good luck today.