Despite a small decline in volume over the past couple of sessions, overall, AUD/NZD volume increases have been on weakness, while strength has been on declining volume: a characteristic of a healthy downtrend. JPY and CHF stand out amid the low volumes around the US/UK bank holidays. The USD marginally rallied against both these currencies.GBP volume in particular was low (the lowest volume below its 1-week average in EUR/GBP and GBP/USD). The risk is for a period of consolidation above 1.50.
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Barclays