What comes to mind when you look at this EURUSD-EURGBP overlay? EURGBP performed better than EURUSD over the last two years. EURGBP and EURUSD exhibited high levels of correlation in the past such as in the 90s or between 2010 – 2015.
ECB Monetary Policy Meeting this Thursday could provide the driver to push EURGBP into a move with conviction. If not, then how the pair closes by end of January should provide a clue for February. This zone is a significant support coming to five months.
The euro’s recent surge to two-month highs against the pound fit its Elliott wave blueprint beautifully. Sponsored content by Elliott Wave International.
This is an end of Wk14, beginning of Wk 15 appraisal of the market. I am looking at the AUDUSD, EURUSD, XAUUSD, China A50 and a couple of other trades written about in the past 2 weeks.
GBP pairs flash crashed this morning without apparent trigger. Several pairs set new high/low for the year. Some fear that brokers may not honour trades.