Forex technical analysis: We continue to find buyers in EURGBP near 100 day MA
Three days in a row, buyer have stalled the fall near the key MA.
The EURGBP continues to find support buyers near the 100 day MA. For the third day in a row, the pair approached the MA line at 0.8846, and buyers stalled the fall. The pair has not had an hourly bar close below the MA line since February 28th.
Also at the level is the 61.8% of the move up from the February 26th low. That gives the level added importance.
The pair has moved up to retest the 50% midpoint of the move up from the February 26th low at 0.8869. A move above that will look toward the trend line at 0.8875 and the 100 hour MA at 0.8882. Last Friday, the price stalled near that 100 hour MA (March 9th - see blue line), and that started the run lower.