EURGBP - Drawn by 200 SMA.
This new demand for the Euro has caused an acceleration in an already bid market for EURGBP. As you can see from attached chart this psychological point has not been breached since last November. Our assessment is that the cross with breakthrough but it’s worth noting that breaks of this moving average are rarely clean and it’s statistically likely that a prolonged period of range trading around the line will be seen.