EURUSD and GBPUSD both up around 4 pips

The EURUSD and GBPUSD are working lower and in the process are working back toward unchanged on the day. A snapshot of each currently shows each up 4 pips. 

The EURUSD moved up to test the underside of an old trend line earlier in the NY session and in the process moved above a swing level at 1.14223 level. The price is now below that swing level.  The earlier NY low bottomed near the 1.1400 natural support level.

For the GBPUSD it extended above its 200 and 100 hour moving averages at 1.25741 and 1.25836 respectively on its way to a high for the day at 1.26239. The price has rotated back down and is trading just above the 100 hour moving average once again. Those moving averages will continue to be barometer is for bulls and bears as the market continues to move up and down.


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