EUR/GBP – Consolidating around 0.80, stops may attract

  • EUR/GBP opened at 0.7990, up from a Friday close of 0.7938
  • Traded in a 0.7975-0.8017 range so far
  • Decent resistance at 0.8035 (August high), but large stops resting above that level, which may attract
  • Fundamentals suggest selling rallies still the preferred strategy, but uncertainty about the Scottish referendum means that we’ll likely see whipsaw price action
  • To the downside, key intraday support at 0.7957 and 0.7938

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