In the morning, we had expected a move towards 1.3750 for the euro. The high of the day was printed just a few mins back and it was 1.3743 with my broker. We did manage to break above the crucial resistance at 1.3680 and finally we managed to reach 1.3740 as predicted in the morning. The breakout above 1.3680 took a long time coming but considering how shallow the dips were becoming, it was only a matter of time before the resistance broke. We have lot of resistance above but i guess we can safely expect a move towards 1.39-1.40 in the coming days.
For GBPUSD, as expected, the upmove was very slow and difficult. There was lot of ranging and we had expected to see 1.6160 today but we managed a high of only 1.6120. The pound seems to be under a lot of pressure but the support is also holding up and so tomorrow, when the rate statement would be released, should be very interesting.
