Forex technical analysis: EURGBP tests low for the day/week

Technical Analysis

Author: Greg Michalowski | eurgbp

EURUSD fall being helped by a decline in the EURGBP too

The EURGBP is down testing the low for the day and the low for the week at 0.8772. The move lower is helping/following the EURUSD which just cracked below the 100 hour MA at 1.1777.  Be aware that we just went through the 4 PM London fixing, so that may be having an impact on the pairs.

Regardless, the pair is now below the week low and in a week that has been up and down with no discernible trend, that could lead to more downside momentum/potential.