A good session in Asia is continuing as Europe enters the fray 2 Oct
USDJPY nudging back up to Asian highs of 112.93, GBPUSD down to 1.3358 as strong EURGBP demand around 0.8800 puts a cap on cable with EURUSD down to 1.1763.
Jury still out on the impact of the Catalonia independence vote but for the moment the damage has been limited and that demand on EURGBP vs EURUSD losses is notable as a marker. For me the outstanding/most disturbing feature of yesterday's vote was the excessive use of violence by Spanish police. That must surely come back to haunt them and undermine authority overall. Let's see if anyone in the EU hierachy is brave enough to make note.
Should euro selling accelerate and 0.8800 give way then expect further demand/support into 0.8785 then last week's lows into 0.8750. Sellers/res 0.8810-15 now then 0.8830.
EURGBP 15m