Euro weakness notable again as another day gets underway 22 Feb
EURGBP now down on session lows of 0.8428, lows not seen since December, with EURUSD also trading just above 1.0533 lows
GBPUSD pinned around 1.2500 therefore after 1.2508 highs. Expect more offers/res around 1.2520 then 1.2550. Demand/bids 1.2480-85 then 1.2460.
EURUSD demand/support around 1.0520 yet to break in this latest bout of euro weakness this week. Rallies are getting lower so we should expect a test, and break even given close proximity, but always dangerous to assume in this game. Next line of support/bids then into 1.0500. Offers/res 1.0550 then 1.0580
I'm happy to watch and observe here. If the move runs out of steam or extends to 0.8400 and 1.2520-50 I'll be poised to short GBP again but no immediate rush to jump in imho.
UK Q4 GDP the data risk at 09.30. I will see if a) good levels present themselves prior and/or b) where we are closer to 09.30 GMT
