EURGBP breaks to lowest level since August 2022

The EURGBP is tumbling lower in trading today. The price is currently down -0.47%, and in the process took out the lows from early June at 0.85667. The pair is also below swing lows from December 2022 between 0.8546 and 0.8559.

The low price just reached 0.8543. The close risk would be the early June low of 0.85667. A more conservative risk level of the daily chart would be near 0.8600 (see red circles on the chart above).

Drilling to the hourly chart below,

• The price was corrected on Monday and in the process moved back above the 100-hour moving average (blue line in the chart below).
• On Tuesday, the 100-hour moving average Moving average A moving average is a statistical tool that is used to smooth out short-term fluctuations in data and reveal longer-term trends. It is calculated by taking the average of a certain number of data points over a specific period of time, and then plotting that average as a line on a chart. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA).In financial markets, moving averages are often used to analyze stock prices, exchange rates, and ot A moving average is a statistical tool that is used to smooth out short-term fluctuations in data and reveal longer-term trends. It is calculated by taking the average of a certain number of data points over a specific period of time, and then plotting that average as a line on a chart. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA).In financial markets, moving averages are often used to analyze stock prices, exchange rates, and ot Read this Term was retested and held support.
• On Wednesday the price fell below the 100-hour moving average but stalled ahead of the lows from last week.
• Yesterday the price move back above the 100-hour moving average but could not extend above the falling 200-hour moving average. The price is not been above the 200-hour moving average since May 29.

In trading today, the selling took hold within the European session and has continued as London/European traders exit for the day.

How has the EURGBP EUR/GBP The EUR/GBP is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the British pound of the United Kingdom (symbol £, code GBP). The pair’s rate indicates how many British pounds are needed in order to purchase one euro. For example, when the EUR/GBP is trading at 0.7500, it means 1 euro is equivalent to 0.75 British pounds. The euro is the world’s second most traded currency, whilst the British Pound (GBP) is the world’s third most traded cur The EUR/GBP is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the British pound of the United Kingdom (symbol £, code GBP). The pair’s rate indicates how many British pounds are needed in order to purchase one euro. For example, when the EUR/GBP is trading at 0.7500, it means 1 euro is equivalent to 0.75 British pounds. The euro is the world’s second most traded currency, whilst the British Pound (GBP) is the world’s third most traded cur Read this Term impacted the EURUSD and the GBPUSD?

The EURUSD is trading to new session lows as European traders exit for the week (EURUSD is down -0.32%). The GBUSD, meanwhile, is trading near session highs for the day (GBPUSD Is up 0.16%).