1.3640 is the new high after and it’s helped drive EUR/GBP through resistance at 0.7960. We’re back below in the cross now as cable joins the dollar sell off, which is not coming being translated in a move in USD/JPY.
The effect is being felt in USD/CHF which has come off nearly 25 pips to 0.8911
I pointed out the levels to watch earlier around 1.3675/90 and cable has an area it needs to break here at 1.7145/50
GBP/USD h4 chart 09 07 2014
Taking some decent pips has been very hard work of late so if you’re long from below then be prepared if we don’t go through these S&R points. I was long cable from 1.71 yesterday on the manufacturing drop and decided that the 30 pip gain I took last night was good going.
