Approaches support at 0.87506 to 0.8752.

Approaches support  at 0.87506 to 0.8752.

The EURGBP is moving lower today as traders push the pair below MAs and the high for the day could not approach the recent ceiling area at 0.87950 (the high price reached 0.87905).

The run to the downside also cracked back below its 200 and 100 hour moving averages. The pair moved above its 200 hour moving average for the 1st time since January 29 yesterday (and failed). Today it tried again only to run out of steam.

The price is now back down testing swing lows from Wednesday and Thursday (and other swing areas going back to February for February 5) in the 0.8750 to 0.8753 area. A move below that area would have traders targeting the extreme low from February 5 at 0.87378.

The GBPUSD has been relatively bid today with help from a better GDP. The EURUSD meanwhile has been stepping lower. It is currently testing a swing area between 1.2080 and 1.20865.