Jezz, the correlation thing is still important, although it does move with the times.
Right now on GBP it’s brexit, so Eur/Gbp is a driver - a cross used most by business and banks for settling bills and not so much for the specs
Anyways, it got into the whole risk thing in the last few days, and with risk in comes the mighty USD and it’s correlation.
Cable - buy GBP? on Thurs past vs USDX and EURX:
Hmmm… totally not clear, so I’ll check cable on a US server - with the US10yr - what better risk assessment
Damnn… can’t be sure, there has to be a line - without indicators - where the bank protects it’s position - maybe Eur_Gbp will give a clue: