Credit: Falls below 50% and MA support.
The EURGBP was on the move earlier today, but ran into topside resistance against a topside trend line. That trend line reversed the move and the pair is back toward unchanged levels on the day. It is also testing the 38.2% of the move up from yesterday"s low. That comes in at 0.8496.
Earlier today (at the day's low), the pair found support against another support level defined by prior swing lows/highs (yellow area in the chart above). If the 38.2% should break, that area will continue to be a key support area for this pair.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
