The correlation between the two pairs continues to play out
Yes folks, Part 5327 in my regular look at the impact these two pairs have on each other
Early demand for GBPUSD faded at 1.5367 as EURUSD ran into bids at 0.7400 as I also highlighted in this post
Low on that was 0.7402 and now 0.7413 even with EURUSD topping with cable loitering around 1.5350
Support on that pair will centre around the 200DMA at 1.5346
It always pays to keep an eye on the cross-impact of all pairs you choose to trade in. Something I've banged on about more than a few times here.
