GBPUSD trying to stage a rally after dumping again to 1.3139 28 July
The support/demand at 1.3150 gave way on a wave of USD buying as NY came to the party generally that also saw EURUSD fall to 1.1081.
The earlier EURGBP demand has receded for the moment after the pair capped at 0.8438, the top of the recent consolidation range .
Currently 0.8422 and 1.3165 I still expect to see the two-way business continuing. Just pick your levels and don't get greedy. GBPUSD should be 1.3100-1.3230-50 for a while and EURGBP 0.8400-50.
