GBP is the strongest. The EUR is the weakest.... HMMM that means EURGBP is on the run
The snapshot of the forex markets as London/Europe head home and the US heads into the afternoon hours is showing the GBP is the strongest, the EUR is the weakest. That means the EURGBP is the biggest mover. Indeed that pair has moved down -0.56%.
For the USD, there is a mixed story.
- The greenback is higher vs the EUR, CHF, and AUD
- It is down vs. the GBP and NZD, and
- Unchanged vs the JPY and CAD.
It is more of a random walk for the dollar today.
Looking at the ranges today, the EURUSD has an 80 pip range and moved below the 1.1900 level to 1.1896. That is a new low for the year, but the price is back higher and above the Friday low at 1.19096 and the January 2018 low at 1.1915. The price remains below the 100 hour MA at 1.19716 (and moving lower).
The EURGBP fell back below its 100 day MA today at 0.88074. Last week, the price closed above that MA on Thursday and Friday. Today that break above is failing. The bears are back in charge below that 0.88074 level now.
