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The on again/off again EURGBP relationship continues

Discussion in 'Technical Analysis' started by ForexLive, Dec 10, 2015.

  1. ForexLive

    ForexLive Forum Member

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    Back down testing the 100 and 200 day moving averages The market has been having an on again/off again relationship with the EURGBP recently. Yesterday, the pair moved lower after failing to extend to new highs for the week. However, the 100 hour moving average and 50% retracement of the weeks trading range held support (blue line chart below) and we saw a steep run up into the close. The move helped to propel the EURUSD above the 1.1000 level and to a high price of 1.1042.

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