EURGBP tumbles lower. Looks to test swing area.

Technical Analysis

Author: Greg Michalowski | eurgbp

The swing area on the daily chart comes in at 0.8862-76

The EURGBPU has moved sharply lower as the GBPUSD gets squeezed to the upside (and away from its 200 day MA). The EURUSD is still lower on the day. 

The swing area on the daily chart comes in at 0.8862-76 
The pair looks toward support at a swing area at 0.8862-766.  The low was so far reached 0.88847.  

Drilling to the hourly chart, the recent swing levels come between 0.88667 and 0.8879.  It will take a break below that area to solicit more selling.  Stay above could see some rebound probing to the upside on profit-taking.

EURGBP on the hourly chart


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