Basing near the 100 hour MA
Be aware.
The EURGBP is trying to base near the 100 hour MA at 0.8626. The price today, has dipped below that MA level, but momentum was limited. The price is back above the MA and there is a little life to the upside. Are the buyers coming back in? Stay above that MA line.
Where is it going?
Well, the high today stalled ahead of the highs from last Friday and the falling 200 hour MA (green line). Those levels come in at 0.86607 to 0.8663. It will take a move above each to tilt the bias more to the bullish side for the pair.
Buyers are making a play but they have work to do. It is a low risk trade for the dip buyers.
Stay above the 100 hour moving average at 0.8626 and get above the swing highs and 200 hour moving average at 0.8660-63 area.
