EUR/USD fell during the session on Wednesday to run back towards the 1.25 level. The market seems to be waiting on the Jackson Hole speech from Ben Bernanke in order to figure out what the next move by the Fed will be. We think this pair is going to grind sideways until that speech this Friday.
The EUR/GBP pair fell, and is testing the 0.79 handle. We think this is the area that selling this market makes sense from, and if we can get a daily close under this handle we are selling.
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