Keeping the sellers in control.
While the EURUSD probes the downside, the GBPUSD is not making new lows, but keeping a lid on the pair below the 200 hour MA. That MA comes in at 1.31465. The high in the current hourly bar reached 1.3145.
The GBPUSD's range for the day is more robust than the EURUSD. So a slowing is not all that surprising. Nevertheless, technically, on a break of a moving average, traders want to see a move away. A failure/ move back above will not be welcomed by shorts below the MA level. The pair is also below the 50% of the move up from the Brexit low.