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EURGBP pushing the market around

Discussion in 'Technical Analysis' started by ForexLive, Jul 12, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    Traders test target The EURGBP has continued to the move to the downside helped by a break of the 200 hour MA (first since the Brexit run up). The pair is also now trading below the next target at the 38.2% of the move up from the corrective low on the Brexit Friday. That level comes in at 0.8378. The level is also near the Monday and Thursday after Brexit highs. There was a lot of congestion around this area. We are trading below that level now as traders exit positions in the pair.

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