You see everything lined up just below short term resistance against the dollar. Makes me wonder if there's a bigger move ahead.
In formal term, it's called speculation. When there is no data, price comes back to the mean. Since speculation's net position has been short for GBP and long for Euro, you simply sell GBp at the high and buy euro at the low and have tp until they create double bottom/top respectively lol
Well, that was a wild ride. Got stopped on GBP only, reentered in the 60s. Added more usdjpy and USD Cad. Just cut out Euro, GBP.
I'm trying to see where I said that. An example would have been last night during Asia session. Everything was lined up just below levels that looked like they would be penetrated. Euro at 1.1760, GBP at 1.2880. I was thinking there were stops on the other side to sell into. But there wasn't much of a push when those levels were violated. I ended up holding the whole wad till just a little while ago.