Both the EURUSD and the GBPUSD moved lower in trading today and in the process erased much of the gains from yesterday. Each also saw the price move below their respective 100 hour MAs (rising) and both also failed on those breaks fairly quickly. The sellers turned to buyers.
The corrective moves higher have seen a rebound to shorter term upside targets that would give the buyers more hope IF the targets and momentum could continue. The buyers are showing some life, but not quite to needed targets.
IN this video, I outline the targets needed to be broken and explain why.
This article was originally published by Forexlive.com. Read the original article here.