100 day MA next target

Helping keep the pressure on the EURUSD (below the support at the 1.0700-06 area) is the cracking of the 200 day MA on the EURGBP chart. Looking at the 5-minute chart, the 200 and 100 day MAs are overlayed on the chart. As you can see, the price stalled at the MA line 3 separate times, with each bounce more and more moderate.

The line was finally broken with momentum at the same time the EURUSD was falling below the 1.0700 level. Needless to say, the EURGBP and the EURUSD are influencing each other.

The next target for the pair comes in at the 0.8557 where the 100 day MA is found. A break below and the door opens for a further move lower. It should also help drag the EURUSD lower.