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Forex Trading:EURGBP helping the EURUSD move lower

Posted by Greg Michalowski on Thu, 05/29/2008 - 11:46am in

Much of the pressure in the EURUSD is from selling in the EURGBP.  This pair has moved through the 61.8% retracement at the 0.7868 level and really does not have any real technical support until the 0.7821 level. 

Although the pair has helped the EURUSD lower today, the EURUSD may help the EURGBP bottom if the 1.5489 level finds support in the EURUSD.

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