The EURGBP is also a key technical level….

100 and 200 hour MA and 50%, The fall has been strong and unrelenting (for the most part), but the EURGBP is really the key.

The 100 and 200 hour MAs are in the process of being tested as this is the 50% of the move up from the week from the bottom to the top of the week (0.8934-39). It is 4 Pm London fixing. It is Friday. Thus, the liqudiity flow can mess with the market today, but it is a key technical support level.

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