EURGBP remains under pressure

Discussion in 'Technical Analysis' started by ForexLive, Sep 30, 2015.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
    Likes Received:
    Month end flows impacting Mike has been harping on month end payment flows to the UK farmers which is contributing to the weakness. Technically, the price is making new session lows and is moving further below the 100 hour moving average at the 0.7381 level (risk level now for shorts). The next target support comes in at the 0.73442 level. This is the 38.2% retracement of the move up from the September 22 low to the September 29 high.

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