Released earlier today, even JPM couldn’t directionally second guess what would occur on the eurusd and gbpusd etc. A few hours later and it appears, so far, we do have some answers here to direction.
We can add their tech and position on the levels to all the other fx views published this week. It was clear there was much in house confusion over where next.
Lets see if these levels and direction hold to the close and into the weekend, ideally.
A lot of large capital allocators will need to take note and act, if these levels persist.
The herd will be forced to move and this generally means a pay day for the institutions.
Here the report;
Rich