the risk is not getting stopped out from the highs (1.08x) but instead it is getting married to the position; you noticed I have changed my outlook on the euro as I think the end of the downtrend is around the corner.
I am seeing a lot of frustration from some holding shorts and then the other side of the coin we have longs who are pleased that we may move away from the choppy range.
Lots of details will come in the next few days, what is important here: RISK
All eyes on FTSE and Sterling.
Can you spot the accumulation/distribution?
I will attach a short term range from a mid term perspective.