Support against it yesterday. Today a break below and using as resistance
The 200 hour MA is flexing technical muscle over the last few days. The pair found support against the level toward the end of trading yesterday. The price rallied toward the 100 hour MA where selling pushed the price below the 200 hour MA line in the London morning session. The corrective move higher in the North American session peaked against the 200 hour MA line at 0.8404 and the price has rotated back lower.
The recent fall has kept the EURUSD more offered. The GBPUSD followed for a while to new session lows but is now rebounding. The EURUSD did test the target against the 100 hour MA at the 1.11605 level (low reached 1.11615). Will that support hold help reverse the EURGBP now? I would not be surprised.
