After being underpinned by EURGBP before the BOE we're seeing a similar price action now
The BOE dovish stance sent GBP longs running for cover but we're now seeing decent demand as expected into 1.5100-10
Prior to the BOE saw demand around 1.5170 forcing it back toward 1.5200 as EURGBP fell through 0.7250 then 0.7220 to post lows of 0.7205
Now we're seeing a similar price action as offers into 0.7250 are capping EURGBP and lending demand to GBPUSD which has recovered a little to 1.5128
It still remains on the back foot though but for the jobbers/intra-day traders we're seeing some great two-way business providing opportunity across a range of GBP pairs
Don't get greedy though. We're still not breaking out anywhere in a hurry.
