Pound perks up after post-data retreat

GBP support notable again as USD sellers return 13 Feb

GBPUSD now up through 1.3900 again and posting highs of 1.3923 ahead of sell interest/res at 1.3930 with more behind that at 1.3950

EURGBP down to 0.8862 and GBPJPY up to 149.70 despite USDJPY posting fresh session lows of 107.53

GBPCHF notably higher at 1.3011 with USDCHF holding firm around 0.9330 despite USD supply elsewhere. EURCHF holding 1.1500 too so let’s take a reasonable guess/assumption and say the SNB are “smoothing” again to prevent the franc from strengthening too far.

I’ve re-sold some post-data GBPUSD shorts that I jobbed back in near the retreat lows and will add into 1.3950. Being already short USDJPY gives me a fresh short GBPJPY position and hedge in case the USD selling continues which is not beyond reason.

Good two-way trading pips to be had still.

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