0.7960 was a fairly strong level on the way down and so far it’s proving that old levels change hands frequently.

The fall in the pound saw EUR/GBP pull up a pip below the level and we’ve fallen back slightly to 0.7953.

EUR/GBP daily chart 08 07 2014

EUR/GBP daily chart 08 07 2014

In the same way 0.7945 was resistance through yesterday and today that is also now going to be mild support.

In the current environment of slow markets tech like this can nab you a few ticks on a scalp and can keep the account ticking over.