• Wednesday saw a dip in volumes, but activity remains well above the annual average.
• GBP/USD buying is now being accompanied by declining volumes. This signals lack of investor interest at higher levels and risk of a top developing near 1.5700, the 200-day average.
• AUD volumes remain elevated, but a topping candle yesterday trumps Tuesday’s bullish “hammer” in AUD/USD and suggests a choppy consolidation phase ahead of renewed AUD weakness.
• EUR/SEK saw an uptick in volume with the first down close in seven days of trading.
Read the full report: Technical Research
Barclays