GBPUSD, EURGBP trade at highest levels since mid July
The GBPUSD and EURGBP are trading at extremes not reached since July.
For the GBPUSD, the pair has moved above the July high at 1.3371 and scooted higher. We now are getting weaker data out of the US and that too is pushing the dollar lower and the GBPUSD higher (the price moved above the 1.3400 level in the processs).
Looking at the hourly chart of the GBPUSD, the topside channel trend line found some sellers on the test. The market has been having those fits and starts over the last few days of trading. Today's break was a bit more convincing. SO look for the 1.3373 high from yesterday it find support buyers.
Over in the EURGBP, that pair moved below the August low of 0.8343 . The 38.2% of the move up from the July low comes in at 0.82808.
