As the day moves toward the close in the North American session, and traders look toward the start of the Asia-Pacific session, both the EURUSD and the GBPUSD are moving above their 200-hour moving averages. Not far away are the 38.2% retracement and 100-hour moving averages for each.
So both pairs are looking toward that target and would need to get and stay above those levels to increase the bullish bias. Absent that, there could be disappointment in the failed break and the inability to extend above the higher 100-hour moving averages.
Be aware. Be prepared. Learn about it in this video.
This article was written by Greg Michalowski at www.forexlive.com. Source