The 200 mma has been a big player in the moves in this and cable, more so than any moves in EUR/USD
We're treading water around it at the moment after a brief dip below and I get the feeling it's becoming crunch time for a move either way. I'm not so keen on playing the intraday long side anymore from this level as I feel it's possibly run its course. The persistent return to the lows suggests that we break lower.
EUR/GBP H4 chart
I've just marked the 200 mma as a horizontal line for now while I use a lower time frame. Beneath that we have the 2006 support line at 0.7347. That really marks a line in the sand before a drop to the 61.8 fib of the 0.5680/0.9804 lo/hi
EUR/GBP monthly chart
