Channeling for the last 2 days, GBP/USD declined sharply on more than 100 pips in the first part of the day. The interesting part is that the decline was not supported by any new fundamental information. Normally, one needs a good reason to go in any direction with that speed, but term 'normally' is not term 'always'. The decrease is rational, but who is selling before BOE on Thursday? One option is that a big player (e.g hedge fund) utilising lower than normal liquidity environment (because traders prefer to stay out of the market before big BOE days and JPY is the liquidity king atm) intentionally moved the exchange rate down in order to eat long SLes, which moved the rate even lower that made the big player's position profitable. Then he TP. However, this scenario is more unreal than real, as you need a lot of $$$ to move the FX market. Anyways, it was a strange move. Will stay out of the market till BOE announcement.

P.S EUR/USD same stuff started moving down, but then worse than expected EU data supported the movement.
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