Thought it about time we had a separate thread for currency plays.

Charts Currently Removed - New Ones To Follow Soon

Good Reading If You Like FX
http://www.mizuhobank.com/fin_info/exchange.html

LONDON, July 21 (Reuters) - Sterling edged down on Monday as traders continued to be cautious over events in Ukraine and Gaza and as data added to a sense that Britain's economic recovery might be coming off the boil. Numbers released on Monday showed British consumer confidence dipped for the first time in 2014 in June, with spending on gas and electricity around 2.5 percent lower than a year ago. ID:nL6N0PT4ID Separate data showed asking prices for British houses had fallen for the first time this year. ID:nL6N0PT31L Concerned about Ukraine and Gaza, investors have pulled money out of sterling, putting it instead into traditionally safer currencies such as the yen, Swiss franc and the dollar. Sterling was down 0.1 percent against the dollar at $1.7075, over a cent lower than last week's near six-year high of $1.7192 GBP=D4 . "It doesn't seem very comfortable at $1.71 and we've seen it fall off quite sharply, but I think that's more about a slight dollar move," said Kathleen Brooks, research director at Forex.com. "Also I think we're a bit risk-off," Brooks said. Against the euro, the pound was flat 79.20 pence EURGBP=D4 . Traders are awaiting minutes on Wednesday from the latest meeting of the Bank of England's Monetary Policy Committee for any signs of when a first interest rate hike in seven years might happen. The market is pricing in a slight chance that will come in November GBPOIS=ICAP . Data last week showed UK inflation in June at a higher-than-expected 1.9 percent, just shy of the BoE's 2 percent target, prompting investors to increase bets that the rate rise will come before the end of the year. But some traders said that despite that expectation, there were a number of risks that could weigh on sterling and could inject the market with a dose of a volatility. "Tailwinds from BoE hikes may not be enough to offset growing downside risks (for sterling). Investor concerns about the Scottish referendum in September, general elections next May and a potential ... "Brexit" (Britain leaving the European Union) could ... fuel FX implied volatility," analysts from Citigroup said in a research note.

Debating a EUR/GBP long position..

Bit easier to see with the Tenkan-sen in yellow.

Shortie, I note you created this thread. Did you leave out the Euro sign
in the heading because your keyboard, like mine, doesn't have the Euro key?

Its on number 4 along the top, I couldn't work out if it was 'shift', 'ctrl', 'alt' and the number to get it or a combination and just gave up in the end.

EUR/GBP looking overbought on the 5 following a bounce off 1.27

Its CTRL, ALT 4 €

The nine members of the Monetary Policy Committee voted to keep rates at 0.5%, as expected.

They agreed that while "employment had continued to increase robustly... wage growth had been surprisingly weak".

Wage growth excluding bonuses slowed to a record low 0.7% in the three months to May.

The committee also said there might be a "modest slowing in output growth" in the second half of the year.

The minutes read: "There were early signs that global growth was weakening, and an unexpected increase in interest rates when real wages were not yet rising could... destabilise the recovery.

"The committee agreed that no increase was warranted at this meeting, although for some members the decision had become more balanced in the past few months than earlier in the year".

€€€€€€€€€€€ cheers Skinny

£ and € after BoE minutes.

Euroforecast

€ new lows

Could become interesting if it breaks support..

Gone Short.

$ gains

Nicely in the money, sold at 1.68798 and currently at 1.68603..

Approaching the upper trend line of the range, one to watch for a reversal now.

$ v Y today

Dollar up