Up and down action today
The EURGBP moved below its 100 hour MA yesterday (blue line in the chart below) and failed. The corrective move in to new day first stalled at the 50% of the move lower, but on the move lower off that midpoint level, continued to find buyer against the 100 hour MA.
In the NY session today, there was a move above the 50% level. However, that move failed.
We are back below the 100 hour MA. The Catalan statement by Puigdemont is around the corner. The market is sitting on the line that defines bullish above and bearish below. The pair is waiting for the push and run.
