Tag Archives: Share Trading

The market has struggled to put together a rally the past few days, failing to hold each day; a short-term move lower looks in store.

GBP/JPY ran into the post-Brexit trend-line last week, and after another couple of tests this week, that support remains. But bulls haven’t exactly taken care of matters, leaving the door open to a deeper retracement.

EUR/JPY has traded down to fresh five-month lows, breaking through what’s been a big zone of support after last night’s Japanese CPI print.

IG Client Sentiment data shows the majority of traders are now net-long the British Pound versus the US Dollar—breaking a two-month trend. A contrarian view of ‘crowd’ sentiment warns of declines.

The combination of current sentiment and recent changes gives us a further mixed Spot Gold trading bias.