EURUSD breaks 200 hour MA as London/European traders look to exit

Going out at the session lows/week lows in Europe

The EURUSD has cracked below the 200 hour MA at 1.1278 level as London/European traders look to head for the exits.

The break takes the pair to session lows and week lows. For the week, the EURUSD peaked at the 1.1415 level - a few pips away from the 61.8% retracement of the move down from the May high to the May low.

The turn around chipped away at technical levels with the 1.1348-56 giving way. That led to a test of the 200 bar MA on the 4 hour chart. Today the market traded like a Friday with up and down flows around the aforementioned 200 bar MA at 1.1307. However, the end of London day flows has tipped the pair back down and below the 200 hour MA at 1.12780.

EURGBP also sold off falling from 0.7888 to 0.7856.