EUR/GBP tried to rally again on Wednesday, and just like Tuesday - failed. The pair looks very bearish at this point, and the 0.82 level is being threatened. This pair could fall a bit more, perhaps to the 0.80 level if that area gives way. We will be watching this pair without a doubt.
The GBP/USD pair found support again at the 1.58 level. The 200 day EMA is sitting there as well, and because of this, there will be a lot of buyers willing to step in. However, the 1.60 area is also resistive. The breaking of the recent highs are needed for us to be comfortable going long at this point. In the mean time, this is a scalper's market.
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