CitiFX on the GBP/USD:
- Says solid cable support in the $1.6661-$1.6693 zone
- That area contains the “converging May low and 200-day moving average”
- Notes that a clear break below that area “opens the way towards $1.6440-$1.6460 and potentially $1.6300″
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Added: eFX have some more up on this now, and have added a little on EUR/GBP too:
Today’s price action on GBP suggests additional weakness remains likely which would be further confirmed with decisive breaks through key support/resistance levels
EUR/GBP:
- ” The close today above 0.80 confirms an inverted head and shoulders which targets 0.8110. An extended rally could see EURGBP test the converging channel top and early 2014 lows around 0.8158-0.8168. (It is worth noting that the 200 day moving average comes in beyond there at 0.8199)”
- “… weekly momentum is turning higher from stretched levels and this most recent rally began with a morning star pattern also on the weekly chart”
