EURGBP pops 0.9000 as recent retreat continues

Author: Mike Paterson | Category: News

Another line in the sand breached for EURGBP 12 Sept

The retreat from recent heady highs continues to post 0.8982 and that's given another lift to GBPUSD to post 1.3289

EURUSD down to 1.1937 as hopes of hawkish ECB recede further after yesterday's comments from Coeure and others.

EURJPY though clinging in as USDJPY remains underpinned and posts fresh session highs of 109.85. Offers/res here into 110.00

So as per my previous post we have 1) EURGBP lower 2) EURJPY higher ( on the day) and therefore 3) GBPJPY continues its march north at 145.96.

All delicately poised. Offers/res on USDJPY into 110.00, GBPUSD offers/res into 1.3300 and GBPJPY offers/res around 146.00  and EURGBP bids/demand may all combine to cap these moves, but a break of one could easily trigger breaks in the others and trigger some stops/more stops.

Take your pick but while levels stay intact I won't be pre-empting.

                                                     EURGBP Daily