Buyers below 0.8750 notable today 19 March
I've mentioned the price action, and impact across its core pairs, a few times in recent posts and it's continuing as the NA session gets fully into its stride.
The solid GBP Brexit-led rally earlier saw EURGBP down to 0.8746 from 0.8803 but since then ECB news, some Brexit deal love of its own for the euro and GBPUSD sell interest between 1.4080-00 have all helped give it a little support to now post 0.8770 and appear underpinned again.
GBPUSD has held the 1.4030 support area I highlighted earlier but still capped above 1.4065 with GBPJPY finding sellers again too which I wouldn't disagree with. EURUSD solid above 1.2300 even if it can't get through decent res/offers around 1.2330.
EURGBP demand/support around 0.8735-40 but with some intra-day offers/res between 0.8780-85 to breach if we are to make a sustained recovery. All delicately poised but I would expect the pair to remain underpinned down here at least given the recent declines from 0.8950.
I'm out of here for the day. I wish you good trading and I'll see you all back tomorrow for more fun and games in the ever-surprising FX markets.
