Hello traders, this is the 12.30 GMT intraday technical view

EurUsd continued to make higher high and higher lows for the most part of Thursday’s session and in today’s trading hours until rumors started about bank losses in Uk that triggered a change of focus towards the US dollar, although the pair lost the points gained previously in the Asian and European trading hours it has found support close to the 61.8 Fib Line of the last move up and from there it started to slowly move higher trying to get back above 1.4700.

GbpUsd failed to reach our projected target of 2.1185 and although it made higher highs and higher lows on the 1hr timeframe, as seen in the chart below, the bulls lost some of their strength. When the Uk bank rumors got out cable lost more than 100 points in a matter of minutes and only stopped just below the 2.1000 support level. At the moment in the market there is increased volatility and we advise caution until the rumors either get confirmed of proved to be just that, rumors.