Consumer confidence not bad

US consumer confidence hit it out of the park.

The Richmond Fed data was pretty good too.

The EURGBP loved it.

Hmmmm.

You might have expected the USDJPY to move higher or the EURUSD to move lower but at least the GBPUSD moved to new session lows (USD higher). Go figure. I guess dollar buyers not that anxious.

Technically, the EURGBP has moved above a trend line at 0.8657. The 100 bar MA on the 4-hour chart is above at 0.8686.

Looking at the GBPUSD the price fall has taken the price to trend line support target at the 1.2526 level. That trend line held on the test. The 100 hour MA comes in at 1.25168 below that trend line. The price tested that MA on Friday at the close and moved higher (and away from it)- in trading yesterday.

PS in the back of my mind is the large shorts in the GBP from the CBOT commitment of traders report.

For the EURUSD, the pair moved to session highs. It remains in the confines of a 27 pip trading range.