GBP looking very weak

Looking at 4h charts, GBP is looking very weak. Against the buck, Sterling is at the lower end of the recent trading range. 10, 20 and 30 EMAs are all nicely stacked with good angle and separation. Any rallies need to be sold as these EMAs will continue to provide resistance levels. Only close above 6680 would turn bias up. Test of previous low at 6270 is in play and will probably happen sooner rather than later. Sell preferably at a test of 10 ema around 6440.

EURGBP continues to move up as noted in previous posts. Again, EMAs are nicely stacked, sloping up, providing support. Buy on pullbacks to the 20 EMAs currently at around 8670.

QE by the BoE will continue to hurt the Sterling. Larger declines could be in play so trailing a stop as opposed to using a limit to close open positions makes sense.

Good trades.