The world loves my beautiful pound today.
We were last around these parts on the 7th and saw resistance here at 1.5150/55 and so we’re seeing it again.
GBP/USD H1 chart 09 01 2015
We’re also meeting the 100 H1ma here too but the bigger test will be at 1.5200. After initially dropping through the big figure we saw selling coming in at 1.5190. On top of that the broken 2009 & 2010 trendlines may play a part but the stronger levels looks to be at 1.5273 which was the lower level of the Nov range.
EUR/GBP is once again knocking on the 2008 support but we’ll need to see the lower 0.7755 level and 50 fib of the 2000/2008 swing at 0.7742 level meaningfully taken out before we can look for a deeper move south
EUR/GBP Daily chart 09 01 2015
I can’t really see the pound running to far from here with the big event later but given the moves recently nothing would surprise me.
