EURUSDUSDJPYGBPUSDUSDCHFGBPJPY EUR/USD: Moderately Bullish. Institutional accumulation, shorts being cut, and ETF outflows from USD support higher EUR/USD. No major conflicts. • USD/JPY: Bearish Bias. Yen demand strong, but rate differentials favor USD. Short gamma risk could amplify volatility. • GBP/USD: Mildly Bullish. UK positioning flipped neutral/long with no stress signals. Limited conflict, supportive risk sentiment. • USD/CHF: Slightly Bullish, but conflicted. USD positioning strong, but CHF safe-haven demand is a risk. Range-bound likely. • AUD/USD: Neutral-Positive. Short covering and commodity strength help, but legacy bearish positions remain. Needs risk-on momentum for upside. • GBP/JPY: Slightly Bearish. Both GBP and JPY are being accumulated, but JPY demand is stronger. Bias depends on risk sentiment.
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