50% retracement next target
The EURGBP tumbled lower as traders broke through technical levels on steady selling. The 200 bar MA on the 4-hour chart, trend line support lines, the 38.2% – all broken one-by-one (see 4-hour chart below). The GBPUSD helped the pair – as it had it’s own run to the upside.
Forex technical analysis: EURGBP buyers stick a toe in after a break down
