MARKET NEWS AND ANALYSIS

Wednesday, September 5, 2018

EURGBP moves into the Friday/Monday gap. Cracks 50%/100 hour MA

100 hour MA now resistance (also near 50%)

The EURGBP has tumbled on the Brexit headlines and in the process has moved into the gap area from Friday/Monday (yellow area) on the hourly chart above. The price is also below the 100 hour MA and 50% retracement (from the August 14 low) at the 0.8993 and 0.8996 respectively.  That area is now risk for shorts after the tumble lower. 

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