EURGBP test support area

Author: Greg Michalowski | Category: News

The EURGBP has been a mover today, declining after the sharp run up on Thursday and Friday. The pair is currently testing key support at the 200 hour MA )green line) and 50% of the move up from Thursday. Those levels come in at the 0.80391 and 0.80361 currently.  Traders may look to take profit/buy against this level with risk defined and risk limited.  They can always sell out on a break.

A break below would next look toward the 0.8026 and then the 100 hour MA (blue line) which currently sits at the 0.80213 level.

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