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EURGBP makes a break for it above the 200 day MA.

Discussion in 'Technical Analysis' started by ForexLive, Sep 2, 2015.

  1. ForexLive

    ForexLive Forum Member

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    ..but can it stay above? The EURGBP has been toying with a break over the 200 day MA today and over the last few weeks. Back on August 24, the pair moved above the key MA (stock plunge day) but came back down (see the line marked D1 MA:200.0 in the chart above). The pair then tested but held below the MA on August 26th and 28th. Today with the stock market falling sharply again (I guess that is the catalyst?), the pair is shooting higher again and seeing what life is like above that key MA. Risk for longs will be the break level at 0.7350. The next target is the high from August at 0.7420.

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