Tumbles on the GBPUSD surge
The GBPUSD corrected to a key support area and then surged about 100 pips to new month highs (.
see prior post)
Meanwhile over in the EURGBP, the 0.7910 high (topside trend line – see chart above) held earlier in the London session, and that started the tumble lower. The fall has taken the price through lower trend lines, and that momentum has now taken the pair to the first key support target against the 100 hour MA and the 38.2% retracement (see chart above).