Technical Analysis

EURGBP double top, sends the pair back to key breakout support

Swing area at 0.8956-59 looks to be tested

The EURGBP could not extend above the earlier session high at the 0.89993 level (call at 0.9000).  As a result, the double top as led to the buyers turning to sellers, and the price is now back down testing a old trend line and a key swing area (was a ceiling but now a floor.  

That area comes in at 0.8956-59.  A move below that support area will next have traders targeting the 100 hour moving average at 0.89422 (and moving higher). The price of the EURGBP has not traded below its 100 hour moving average since May 11.  

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