Geppy is in a fight and the looney is just about cooked...and No i'm not taking about Jamie Oliver's chicken soup recipe. Action on Monday was designed to panic traders into wrong trades, and tuesdays....well.... i almost always expect a turnaround day.
I'm staying away from geppy at the mo until the UK election is over...i just think it may get some really wild swings to get people into wrong trades or get you out of good trades. This is why all my focus is with the USD and EUR...my bias on this is pretty simple....
I'm technically bearish on the EUR and bullish on the USD in the medium term. The EUR/GBP is tittering on the edge of the abyss but..i would not pull the trigger yet...the USD will strengthen you just have to pick your moment.
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Happy Pippin
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