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EURGBP Market Analysis: Tracing key technical levels and potential trading moves
The EURGBP trended downwards last week, but it experienced a surge of buyers on Thursday, reversing its declining trajectory. From a technical perspective, this upturn that started at Thursday's low of 0.8659 brought the pair beyond its descending 100-hour moving average, but it halted at the 200-day moving average, which was at 0.8734 at the time.Investors, taking their cue from this level, caused the price to dip back below the 100-hour moving average on Friday. However, a rebound in the US se...
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Posted: May 15 2023, 14:19
Author Name: forexlive
Views: 081719