Not too much movement in EURUSD so far this week, just a lot of chop which has been playing havoc with the breakout robots and systems I'm testing.
(60 minute EURUSD chart with 100 period SMA high & low plotted.)
Getting frustrated with my breakout strategies, I realized price is actually still moving - in this case, downwards, as indicated by the orange trend-line. It only connects two points at the moment but we'll see how it holds up.
The 1.30 level is very close, and price is still just resting on the top of the Ichimoku Kinko Hyo cloud on the daily chart (not shown).
GBP is trying to head off in the other direction, so it's not providing confirmation of a move lower how I'd like it to. We'll just hold tight and keep watching.
