Near high from Friday too
The EURGBP tested the 100 hour MA earlier in the day (blue line at the 0.84487 level) but the selling was minimal. That MA was broken and the price scooted up to the 200 hour MA (green line) at 0.8477. The high from Friday was at 0.8482 and on Thursday was at 0.84845. That was enough to stall the rally.
On Thursday, the pair moved sharply lower and recovered the moved shortly thereafter.
ON Friday, and into today, the pair moved even further to the downside, but like Thursday, the recovery has nearly completed a lap back higher.
We are now back toward the highs on Thursday before the downs and ups started.
The next move will likely be triggered on a break of the 200 hour MA (and recent highs above). Alternatively , a move back below the 100 hour MA should solicit a move back lower.
