Heavy SOFR/Treasury options centered around downside puts Friday. Underlying futures running mixed a...
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Last Thursday’s strong bounce in EURGBP, and this week’s gains, still appear corrective. However, the cross is approaching key short-term resistance at 0.8746, the Jan 21 high, where a break would signal a potential trend reversal. Moving average studies are in a bear-mode position and this continues to highlight a dominant downtrend. A resumption of weakness would refocus attention on 0.8613, the Feb 4 low and bear trigger.