EURGBP moves breaks to new session low

Technical Analysis

Author: Greg Michalowski | eurgbp

Cracks below trend line and dipping below 200 hour MA

The EURGBP is breaking to a new session low, and in the process has move below a topside trend line at 0.85273 currently and the 50% retracement of the move up from the January 8 low at 0.85247, and the 200 hour moving average at 0.85225. We currently trade at 0.85186. 

EURGBP is breaking below the trendline and the 200 hour moving average

If the momentum can continue and the price stay below the broken trend line, the next target comes in at 0.8508. That is home to the lower channel trendline and the 61.8% retracement

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