Good Day,

Quite a bit of information today. I delayed the release time until after USD PPi data release.

Overnight the GBP was hit hard on employment data and Carney's testimony regarding the BOE Inflation report was not  GBP supportive. My EURGBP trade is therefore suffering as a result. I am not certain that I will hold this for the day and its looks like a massive reversal engulfing candle on the daily chart will be formed unless something major transpires during the day. Yet another false breakdown through yearly trend line support.....

Wheeler did not really talk down the NZD yesterday either...so if you are nor short the NZD/USD or for that matter the AUD/USD - 0.8675 (NZD)and 0.9410 (AUD) offer good levels to get short in my opinion. Support for both pairs at 0.8600 (NZD) and 0.9310 (AUD) are strong support areas.

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