EURGBP pounds against 200 hour MA


The price has not been closed above since January 26th

The EURGBP is up testing the 200 hour MA (green line) at 0.87844. The price has been pounding against the MA line over the last 5 hour bars, but sellers have leaned against the level and kept the buyers at bay. A move above would open the door to the next target at 0.8995 and then the 38.2% at 0.88064.

The price has not been closed above since January 26th

On the downside, the 100 hour MA at 0.87691 is now support. It was broken earlier today and was able to stay above. The last few days has seen tries above that MA only to fail on each break.  

Invest in yourself. See our forex education hub.



Source link

Published
Categorized as Forex

By Jonathan Prop

Jonathan Prop is an independent financial advisor. He has been working in finance for the last 20 years. After retiring early in his 40s, Jonathan decided to help others get to grip with financial markets, particularly his area of expertise - forex!

Leave a comment

Your email address will not be published. Required fields are marked *