Tests the 50% of the move down from Novmber 30th
While the EURUSD moved to new session highs, so too is the EURGBP.
It currently trades at the 50% of the move down from last week’s high at the 0.84406 (the high reached 0.8441 – see the chart above) . The 100 hour MA looms ahead at the 0.8449 level. There should be some profit taking against the area with stops on a break above.