Quoting alexpi
Can you see the HFT 1/100-second price action? It goes like (sound effect). That's how you place millions of dollars in trades (or out of trades) in less than a second
Now here's a question to boggle the mind - considering that this is not a zone where buying is sound on the institutional level and most stop losses on short positions remaining after the past 4 hours of stop hunting are in the 1.565/8 area... what the heck's happening here?
Is there liquidity? Not before the US market opens. Has there been bullish GBP news? Not that I know of. Is the GBP flat across all pairs? Yes, PA on other currencies is moving the GBP.
Please don't walk into the slaughterhouse guys, just observe for the rest of today