Market is awaiting central bank pressers and speeches from FED officials to breakout either directions. Which means there is no reason to believe why current ranges would give way. Overall Euro is gaining traction on the back of better data and Le Pen giving ground to rivals in the polls.However if polls revealed us anything last year (think Brexit and Trump) it’s don’t trust them. GBP focus is likely to shift to econ data from politics and it could find a bid, if it doesn’t there are not many brave investors keen to buy dips. Which means deeper surge is likely especially against GBP/AUD.
Majority of pairs are caught in a range and playing technical side is very safe to do so below are levels I’m eyeing:
Possible outcomes for the Nikkei which also dictates how Yen crosses behave. It will be interesting to see if trendline holds, should it not GBPJPY is in trouble.
Should this pair trade lower and PA confirms a bounce off of demand is very likely.