Traders relay steady interest to buy EUR/USD in the 1.3600 area this morning, probably from guys who needed to buy them and saw it run up toward .3700 before stalling. Central bank demand is also rumored on dips to the 1.3550/70 area.
Despite all the slow talk, I remain bearish so long as we hold below the 1.3630/35 area for a pullback to 1.3370/75 area, which would be a 38.2% retracement of the two-week old rally.
Steady selling is seen in GBP/USD from investment managers on both sides of the Atlantic today…
Those flows, when taken together, underpin the trend into EUR/GBP after the weak UK GDP…
