Yesterday I reported on three occasions about the good demand on EURGBP into 0.7900 which was capping GBPUSD on its move up through 1.5750, but noted the pair looked bid overall
Well, we saw a move higher through 1.5800 eventually on weaker US data and then to 1.5826 this morning before turning lower after once again drawing traders into a false sense of security.
We’re now back below 1.5750 after a previous attempt saw a bounce back to 1.5771 and with EURGBP back to 0.7920 after failing at 0.7905. Bids on cable next into 1.5735. Offers on EURGBP at 0.7925-30
Fickle finger of forex once again dominates the landscape
