EUR/USD is falling like shopping through a wet paper bag but EUR/GBP isn’t ready to jump off the cliff just yet.
EUR/GBP Weekly chart 25 09 2014
We’ve pulled up at the 2008 support line which is a pretty strong level and have a couple of sizeable levels between here and 0.7700.
At the moment there’s no let up in euro weakness and even if we get a pick up in european data the effect against the dollar will likely be limited, so looking at other crosses for your euro buying fix might be the way to go. I’m still short and happy to run it but this big level here might have me taking some off the table.
