GBPUSD still ping-ponging between 1.3580 & 1.3520 but something’s got to give
- Like the euro, GBP is suffering from yen cross selling and USD buying
- Intraday support at 1.3520 tested to a low fo 1.3521. Held first time but then breaks to 1.3516. Support extends down to 1.3510/15. 200 H1MA at 1.3508
- Stronger support at 1.3495/1.3500. 55 H4MA at 1.3499. 38.2 fib of Dec swing at 1.3493. Stops seen on a break of 1.3490.
- Resistance minor at 1.3535/40, stronger at 1.3550/60 (100 H1MA 1.3551, H1MA 1.3559) and 1.3575/80
- Small EURGBP buying on better German data also weighing on cable
- Intraday range mainly holding at 1.3580-1.3520 but something has to give