In this video, I take a fast technical look at 3 major cross currency pairs:

Those on pairs did have up-and-down worth motion at this time:

• EURGBP: The EURGBP initially moved decrease in the Asian Pacific session solely to seek out help BUYERS towards its 100-hour transferring common. The subsequent transfer to the upside has seen the worth pattern up by means of the 50% midpoint of the August buying and selling vary of 0.8580, the swing excessive from yesterday’s commerce at 0.8598, and as much as a swing space between 0.8609 and 0.8611. The worth has stalled towards that space however nonetheless stays above the 0.8600 degree – holding patrons in agency management. Staying above that degree and getting above 0.8611 would enhance the bullish bias going ahead.

• EURJPY: The EURJPY initially moved decrease into the early European session and then spiked greater earlier than transferring again down once more. The low worth – reached at the finish of the Asian Pacific session – stalled towards its 200-hour transferring common (at the moment at 158.216). A transfer beneath that degree is required to extend the bearish bias, and it will have merchants wanting towards the 100-hour transferring common at 158.00. So far, nevertheless, the 200-hour transferring common is holding help. Getting above the Asian session excessive at 158.65 would have merchants focusing on the excessive worth of the day close to 159 07 and then a swing space between 159.19 and 159.32.

• GBPJPY: The GBPJPY bias had shot on a transfer above its 200-hour transferring common of 184.53, however momentum can’t be sustained in the worth rotated to the draw back. It has now moved beneath the decrease 100-hour transferring common of 184.279 and has spent the final 4/5 hours beneath that degree. The drawback is momentum shouldn’t be essentially growing. Yes, sellers are extra in management beneath the 100-hour transferring common, however ought to the worth transfer again above the transferring common, the worth would transfer again right into a extra impartial bias between the 100-hour transferring common beneath, and the 200-hour transferring common above. Conversely, if the worth is ready to keep beneath the 100 hour transferring common at 184.279, the swing space between 183.17 and 183.327 could be the subsequent key goal space.