Options to blame for the moves we’ve just seen
After the event I know but some colour anyway. There was a large barrier in EURGBP at 0.9000 and that was the target for this move. That info hasn’t been out for any length of time because I keep an ear to the ground for such things, as you’ll note from the barriers I list on the options board.
As I mentioned in my last post, there’s still a large expiry in EURGBP at the big figure soperhaps we should expect some further options related moves around the level.
Late news or not, it still doesn’t change the fact that the old intraday S&R levels are back in play once more. GBPUSD failed up at 1.3180.