Stop me if you've heard this one before but the correlation between the two pairs has played out again
EURGBP demand around 0.7385 and GBPUSD supply around 1.5200 have combined to send the pound into retreat from early demand led by euro-negative sentiment from equity market recovery
Expect GBPUSD demand into 1.5150 again with EURGBP finding fresh offers between 0.7420-30
Sometimes forex can be a very simple game and we should always try and keep it so.
Nothing of rocket-science difficulty in this morning's moves with equities once again leading the way.
