Been a one way street for the cross this morning with a slide from Asian highs around 0.8046 through 0.8000 and tripping sell stops to current lows around 0.7990. The 100 day moving average around 0.7967 (also Sept 11 low) offers some support ahead of the next band of bids down at 0.7950/55.
EUR/USD’s led the charge lower along with GBP/USD’s resilience following marginally better UK retail sales data, with cross sellers seen mainly being of a speculative flavour.
Cross sits around 0.7992
