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EUR/GBP still trending lower
Yesterday the EUR/GBP did briefly pop above the 200 day moving average, but it was only by a couple of pips and very fleeting at that. Once that was out of the way, the downside traction resumed and the Euro later closed below its 200 day moving average once again. That was in place at 0.8679 and the EUR/GBP closed in the US at 0.8660. It has fallen to fresh interim lows this morning, dropping underneath 0.8650. That move is being driven by a drop back in the EUR/USD right now, as noted in the previous update and not by further upside yet in the GBP/USD. The low seen so far has been set at 0.8646. It is currently trading at 0.8648 and once again the downside is very much in the crosshairs here today
Market News
All News-
Nasdaq 100 slides below 18,500
Well, so much for the higher opening for the Nasdaq 100 earlier this afternoon. The push back above 18,900 looks some way off now, as the index... -
Now risk aversion takes hold of the USD/JPY as US yields fall back again
Well, you were warned about the price action likely to be seen in the USD/JPY this afternoon and it sure is volatile and since the last update noted... -
US stocks slide further into the red- S+P 500 falls below 5,450
As just mentioned in the previous update, the US stock markets have turned sharply lower since opening this afternoon. Hence we now have a fresh...
