EURGBP stalls at the 100 day MA on first test
Both the EURUSD and the GBPUSD are higher but the GBPUSD is moving at a faster clip. That has the EURGBP moving lower today.
However, the price is doen testing a key support target at the 100 day MA at 0.8580. The low reached 0.8578, just below that MA level. The current price is at 0.8595. Support buyer have leaned on the first look.
A move back above the broken 61.8% of the move up from the March 2022 low (the 2022 trading range) at 0.86104, would give the dip buyers some comfort in the short term (stay above that level will be eyed). Also watch the 0.8600 level in the short term.
