What's new today?
GBPUSD has become firmly entrenched in the Strong Long zone, at the time of writing this we're seeing GBPUSD pull back from the highs, the bias for this pair does however remain to the long side overall. We have some market moving events including UK Public Sector Net Borrowing at 04:30 EST and US Consumer Confidence at 10:00 that could potentially add some spark.
USDJPY retail positioning remains bearish, however last weeks COT report is indicating a more bullish bias. Our preference is to have the reports confirm each other, thus this mismatch serves up some uncertainty.
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