EUR/GBP continued to shoot straight up on Friday, however we are running into significant resistance at this point. Also, the velocity has been a bit overdone at this point. We are looking for a pullback in the very short run.
The GBP/USD is in a similar situation. We still think 1.63 is a given at this point, just that we need to cool down a bit. 1.60 looks to be the floor as well at this point.
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