A good day at the office for EURGBP 26 March
I warned again early in the European session to bear in mind that EURGBP is likely to be supported by the usual BUBA month-end buying for UK contributions for EU membership.
Hey presto, a hold of 0.8715 from 0.8730 and now a spike higher to test the 0.8750-55 sell interest. A sustained break here could target 0.8780 but EURUSD has sell interest around 1.2450.
As I also warned earlier the EURGBP demand is likely to cap GBPUSD rallies and while EURUSD motors on to post new session highs of 1.2438 GBPUSD is struggling to get back over 1.4210.
I hope some of you were listening.
My work is done here for the day. See you all tomorrow .
EURGBP
