EUR/GBP feeling the heat as GBP/USD goes for 1.55 again
It made it back to 0.8600 after yesterdays swoon through 0.8580 but the moves didn’t look convincing. We’ve broken through 0.8550 after a little fight and are now looking to strong support down at 0.8500 which contains the 200 wma at 0.8499 and the trendline from July 2012.
EUR/GBP weekly chart 14 August 2013
GBP/USD is looking to take on it’s own 200 ma ,on the daily chart, and upper trend line at 1.5529/33.
GBP/USD daily chart 14 August 2013
It’s not giving up 1.5500 but it doesn’t have that pressured feel like it did when it blew up first time around. We’ll see if it really wants to have a go or whether this is a half hearted attempt.