Eur/Gbp tried the downside, but...

The EURGBP waffled within the confines of the 100 hour MA above and the 200 hour MA below for the first 9 or 10 hours today (blue and green lines). The price moved below the 200 hour MA and ran lower. In the process, the price fell below the 100 day MA and the 38.2% retracement ( move up from the November 19 low) at 0.8512 to 0.85145. The low reached 0.84999 (call it 0.8500). That was a natural support target but above another target area in the 0.84886 to 0.84969 (50% and swing levels - see green numbered circles).

The move to the upside has now taken the price back above the 200 hour moving average and the 100 hour MA (green line at 0.85264 and blue line at 0.85407). The bias tilted more in the favour of the bulls/buyers.