EURGBP ping pongs between MA levels today. Awaits a shove.

Although all the action is in the USD today after the better-than-expected CPI, the EURGBP is ping-ponging between some important moving average levels.

Looking at the hourly chart above, the high price today stalled near its 100 day moving average at 0.84675. The subsequent fall to the downside has seen traders are leaning against the rising 100 hour moving average (lower blue line). Also near that level sits the 200 day moving average. Both those MA are near 0.8439 (the 100 hour MA was lower and is moving higher).

So traders leaned against the 100 day moving average above and are leaning against MAs on the bottom. Traders will also be on alert for a shove in either direction. Him him him