Stops are being tripped off in both GBP/USD and EUR/USD as the greenback makes an unexpected comeback. The fact that the risk trade was unable to buoy currencies to new highs despite new highs in gold and US equities appears to have prompted some jitters among the crowd of dollar bears.
Next support of note for cable is down at 1.6520 while EUR/USD should find support closer-by, at 1.4970. Another crop of stops lies below that level. Solid buying in EUR/USD is seen toward 1.4920/30 with large trailing stops below 1.4900.
