It's been a wild ride for both these pairs lately and today is little different
Following the Asian spike to 0.7555 in thin liquidity we've been back down to 0.7460 before testing the bids/demand into 0.7455
GBPUSD similarly ran into offers/res at 1.4585 after enjoying the piggy-backed EURGBP-led rally from lows of 1.4491.
I still see supply between 1.4585-1.4600 and would look to get short again up there and more at 1.4625 with a rethink should we break. Look to buy EURGBP dips into 0.7450-55 with tight stops or a review if that area gives way as we should see a further decline to the 0.7420-30 area. Longer term bulls will want to add to longs down there. Immediate resistance/supply now back at 0.7500 with more at 0.7525.
EURGBP , indeed the euro, holds the key as much as any GBP flows right now and the correlation must always be respected.
Currently 1.4568 and 0.7477
