As Gerry noted during his brief pinch-hitting appearance, EUR/GBP has come under heavy pressure once again and is tsting key support at 0.8720. A break targets 0.8700 where barriers are rumored to be struck.
EUR/USD has fallen to session lows and is testing key 1.4255/60 support amid unconfirmed talk of barriers at 1.4250. 1.4200 barriers are confirmed. We bottomed at 1.4216 back just before Christmas. If EUR/USD doesn’t break lower this time, the market may throw in the towel and slip into a consolidation.
