Above the 200 bar MA on the 4-hour chart
The EURGBP moved sharply higher on the back of the latest setback for PM May. The move took the price away from the 100 and 200hour MAs at 0.8559 and 0.85816 respectively. The 200 bar MA on the 4-hour chart has also been broken. The pair tests the topside trend line at 0.8646 (moved above on the run higher - just below it now). A move above would look toward the 0.8663-71 area. Above that, and the 0.8722 high from March 21 will be eyed.
Close risk is the 200 bar MA on the 4-hour chart at 0.8622. Beow that and a move to the 50% midpoint at 0.8602 will be eyed.
