CHF and JPY carry traders may re-carrying the GBP to the level of GBPCHF 1.3800 and GBPPJPY to the level 154.50 and the impact of their carrying on GBP may lifting the price of GBPUSD to her central band/central parity at 1.3375/1.3300. AND, GBPUSD already reached the 1.3375/1.3300 the new upper ceiling of her interest rate differential price. Therefore, I quoted on my latest analysis that GBPUSD on-hold at 1.3300. The CHF and JPY may carrying and re-carrying the GBPCHF and GBJPY however their impact on GBPUSD will be fluctuated interior the current monthly band/ceiling, or "sideways" until both CHF and JPY complete their carrying as permitted by the policy.
The same price performance also indicated by GBPCAD, GBPAUD and GBPNZD, all attached below
The same price performance also indicated by GBPCAD, GBPAUD and GBPNZD, all attached below
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My short trade on GBPUSD in play to target central band/lower band
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JPY carry traders are pausing to wait central banks' refining policy and interest rate directional policy at current economic slowdown globally as provoked by the IMF and the global central banks. Global investors also refining their investment portfolios to assure profit booking for their shareholders' dividend.
No sign of unwinding by the carry traders yet, but pauses may take sometime before resuming to carry. This will result the resuming of major pairs to downward ( NZDUSD , AUDUSD , GBPUSD , EURUSD ) and to upward ( USDCAD ) as their interest rate differentials' price trends. However at mixed performance of price fluctuation.
GBP-pegged pairs could be in harmony on pressuring the positive interest rate differential pairs ( GBPCHF , GBPJPY and GBPEUR ) to downward (note EURGBP to upward) and supportive to pressure the negative interest rate differential pairs ( GBPUSD , GBPNZD , GBPAUD and GBPCAD ) to downward. Thus, at current market environment, the GBP-pairs in play.
No sign of unwinding by the carry traders yet, but pauses may take sometime before resuming to carry. This will result the resuming of major pairs to downward ( NZDUSD , AUDUSD , GBPUSD , EURUSD ) and to upward ( USDCAD ) as their interest rate differentials' price trends. However at mixed performance of price fluctuation.
GBP-pegged pairs could be in harmony on pressuring the positive interest rate differential pairs ( GBPCHF , GBPJPY and GBPEUR ) to downward (note EURGBP to upward) and supportive to pressure the negative interest rate differential pairs ( GBPUSD , GBPNZD , GBPAUD and GBPCAD ) to downward. Thus, at current market environment, the GBP-pairs in play.