Has not been above since March 30th..
The EURGBP moved up to a high of 0.8482. The 200 bar MA on the 4-hour chart comes in at 0.84857. Near that is trend line resistance from recent highs and the 38.2% retracement at 0.84923. The area between 0.8485 and 0.8492 is a key resistance area. We trade at 0.8473 currently as traders are leaning on the first look at the area.
The price of the EURGBP has not traded above that 200 bar MA line since March 30th, 2017. That is a long time ago. Note, however, that we have traded higher than the level over the last two weeks, but did not get close to the MA level on each push.
Traders pay attention to the MA line to define and limit risk. With the trend line and the 38.2% near the same level, I am not surprised traders are leaning. However, if there is a break, there can be a technical run higher.
Be aware. A key area for the pair looms....