Takes out the 2018 low at 0.8663. June 2017 swing low at 0.8648 next target
The EURGBP is on the move today and technically it has taken out the the 2018 low at 0.8663. That is now a close level to eye. Another close level to eye is the next target at the June 2017 low at 0.8648. In reality we currently trade between that key area. A move below is the real break for the pair now.
Looking at the hourly chart, the pair stallled ahead of the 200 hour MA at the highs today and that started the trend lower. A break below a lower trend line, gave the pair another kick lower. We now trade between the two levels on the daily chart.
Do buyers take some profit against the lows? Be aware that dip buyer and profit takers could come in against the 0.8648 level with stops on a break.
