Monday AUgust 8th FX Gaps

Morning folks

The gap table so far this morning shows the only gaps really worth trading this morning were the USDJPY & the AUDJPY. There are some other gaps open > 10 pips, but taking into account the spreads available they were not worth trading (I have made a note of the typical spreads available between 6.30 - 7.30am this morning). Spreads this morning seem larger than usual, must be less liquidity in the market atm.

Currently there are 4 gaps which still remain open, the USDJPY and the 3 GBP pairs (the AUDGBP came to within 0.6 pips of closing but has moved away again, so I still consider it open). Interestingly, all 3 of the GBP gaps are in the opposing direction to the gaps from Monday 27th June, which remain open (and which increased with the BOE decision last week and the US NFP results). This means price for all 3 pairs is sandwiched between the gaps of June 27th and today's gaps - they can't both remain open forever...



I've taken trades to close the gaps on the AUDJPY, USDJPY & GBPEUR. The AUDJPY is closed & the other 2 remain open.

Cheers, Sharks.