The GBPUSD is trading to a new session low and in the process is extending below a swing area. The move lower in the pair is being influenced by a sharp reversal in the EURGBP. Recall from Friday, the reverse was the case. That is the EURGBP moved lower which pressured the EURUSD and supported the GBPUSD. Now, the GBPUSD is relatively weak, while the EURUSD is relatively strong.
For a look at the technicals in play for both the GBPUSD and the EURGBP, click on the video above..
EURGBP moves up to test the 100 hour MA