Just in case we’re all too excited about Uncle Ben later here’s a quick reminder that EURGBP has been dropping toward the barrier option level at 0.8350 since the MPC minutes were released earlier
Yesterday saw an attempted rally having taken out strong offers around 0.8400.
Has anything really changed since then ? I’m not so sure that it has , and with large sell interest on cable into 1.6000 we should see 0.8350 hold or at least not go too far through ahead of tonight’s FOMC main event.
Price action still feels heavy but worth buying for a punt anyhow with a tight-ish stop to allow for false break.
Currently just posted 8 month lows at 0.8354
EURGBP barrier at 0.8350
