The pair looks to test the 100 day MA at 0.90305
As rumblings of a Brexit compromise work through the political ranks in the UK, the GBPUSD has raced higher and the EURGBP has moved down.
Looking at the hourly chart of the EURGBP, the pair has fallen below the 100 hour MA earlier today after the high for the day found sellers in the resistant swing area between 0.91388 and 0.91482.
The pair was trading above and below its 200 hour moving average at 0.90759 before the news sent the pair to new session lows.
The pair has move below the 50% retracement of the range since November 23 at 0.90475, and is approaching the 100 day moving average at 0.90305. The low price has reached 0.90383. A move below the 100 day moving average should be more bearish.
