Decent gains for the pair after an early retreat 1 Feb
With EURUSD finding some love helped by more option expiry interest, plus GBP sellers re-appearing, it's been a decent rebound for EURGBP.
I highlighted the moves in an earlier post and suggested we might see further acceleration if we break 0.8760-65, which is now a pivotal level after providing decent support on the way down. I also advised that GBP shorts should take some money off the table here and around 1.4210 on cable.
Well we've had the 0.8765 highs despite GBPUSD holding 1.4200 and posting 1.4225 again . The level has held and now back down to 0.8754 as EURUSD makes its own retreat to 1.2446.
Good two-way pips to be had again in this ever fickle world of forex.
