50% of move down from Sep 3 high stalls rally
The EURGBP was pushed higher today on the back of weaker UK CPI data. The price extended to 0.7492 – just short of the 50% retracement of the move down from the September 10 consolidation high to the July 17, 2015 low. That level comes in at 0.74991 (see daily chart below).