Under pressure again and top heavy vs the Dollar above 1.1900...
Not the weakest G10 link by any means, but under pressure again and top heavy vs the Dollar above 1.1900 where 1.7 bn option expiries reside ahead of the Fed. However, the single currency has lurched some distance away from 1.2 bn at the 0.8600 strike against Sterling after stops at 0.8550 were finally tripped to push the cross down to test 2021 lows circa 0.8540 and underlying bids arrested a deeper retreat to expose the round number below. Overall a possible short-lived bull spike may occur over the remains trading days for the week if the highlighted trendline on the 1-Hour can break. Hence, the Pound is being propped indirectly and gleaning sufficient support to stay within sight of the 1.3900 handle vs the Buck even though the DXY bounced towards 92.000 before fading again in the run up to the FOMC.
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