Whats happening now is a max stretch to test bids on eurusd and eurgbp ie. cross-testing avg close prices on at least 10 days period.
If eurusd 8hr closes below 1.1260 on current hour and eurugbp below around 00/05, bids may retreat and take profit and pair drop down to 1.1220/30 to end week.
Later.
They think they are smarter than I am.