Yes folks it's that old correlation classic in play again
I've highlighted it previously this morning in the order board posts but now worthy of putting something up in its own right as GBPUSD breaks down through previous weekly lows to post 1.5276 so far
EURGBP has chewed through good offers/res into 0.7230 and posted 0.7244
Cable had more bids at 1.5265 and 1.5250 with larger interest at 1.5200 awaiting should the move continue post or prior FOMC. Offers now in at 1.5300 again and more into 1.5325 and 1.5350 which held yesterday as per my forecast
EURGBP has more offers into 0.7250 with larger interest between 0.7280-0.7300 with demand into 0.7225 with fresh bids there and the existing ones at 0.7200.
Delicately poised at these levels as the countdown to FOMC begins in earnest
