Trading up to 0.9156 currently
The GBPUSD continues lower and with it, goes the the EURGBP (in the upside direction). That pair has now moved above the 2016 high price at 0.91442. The price currently trades at 0.9156. Staying above the 0.91442 will keep the buyers firmly in control.
The pair now trades into the upper extreme from August and September 2017 when the pair extended all the way up to 0.93043, before reversing lower. The pair stayed above that level from August 21 to September 11 (the last day the pair traded above that 0.9144 level).
The GBPUSD is the dominant pair for the EURGBP. Today the GBPUSD is down 52 pips while the EURUSD is only down 7 pips. Yesterday, the EURGBP also ran higher with the GBPUSD falling nearly 160 pips, while the EURUSD rose about 17 pips.
