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EURGBP demand once again caps cable ahead of NFPs

The euro demand is making its presence felt ahead of today's US jobs report

Stop me if you've heard this one before but EURGBP demand is once again keeping a lid on GBPUSD.

Now posting 16 month highs of 0.7972 we've seen GBPUSD break back down through 1.4320 again for the second time this session after failing to hold previous gains above 1.4330.

Currently 1.4312 we've held the next support line/bids at 1.4300 as EURGBP runs into sellers ahead of 0.7980. Big level at 0.8000 which carries strong offers as per my order post.

A decent break of that level would then have 0.8055-65 in its sights, last seen in Sept 2014.

You'd really be an April Fool if you ignored this correlation.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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