EURGBP tests 200 day MA support as selling pressure continues today

Written December 31, 2009 at 12:02 PM EST by  

gregmike-06064

The EURGBP is down testing the 200 day MA 0.8855 level.  The pair has continued its assault to the downside today after yesterdays sharp move lower.  Of course action is winding down for the year so I do expect action to quiet down, but come Monday, the moving average will come back into focus as traders all return and look for the new opportunities in the New Year.

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