EUR/GBP had a very unimpressive session during the Monday trading day as the pair is starting to run into serious resistance at these levels. The 0.80 above should be even more intense, and a rally from this point will more than likely only lead to further weakness down the road. We are waiting to sell a break lower, or a failed rally.
The EUR/USD pair had a fall for the session, but regained a bit of its losses in order to form a hammer. Looking at this pair, a rally is probable - but it is also just as probable that it is going to fail as the chart looks resistive all the way to 1.27 or so.
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