EURUSD move 200 bar MA on 4 hour chart. GBPUSD tests 50% retracement
The EURUSD and the GBPUSD are both moving to new session highs.
For the EURUSD (see earlier post here), it has moved above its trend line and 200 bar MA on the 4-hour chart (green line in the chart above) at 1.21126 (now close risk for longs). The falling 100 hour MA at 1.12264 is the next target followed by the 100 bar MA on the 4 hour chart at 1.12344.
The GBPUSD is trending faster to the upside and has made it's way to the 50% retracement at 1.26316 after breaking above 100 hour MA, 38.2% and Monday high (see earlier post here). The next target is the 200 hour MA at 1.26488 and the 61.8% at 1.26614. That level was also a swing low from June 13. The risk is the 1.2600 level now for buyers looking for more upside momentum.
