Forex technical analysis: EURGBP moves back up to that 200 day MA line, and falls off

The MA line has been touched the last 4 trading days.

The EURGBP fell below the 200 day MA for the first time on Tuesday. Since then, the price has traded above and below the MA line on each trading day.

Looking at the line on the hourly chart above (green line at 0.8472), the market has been reacting to the line.

Today the price was coming from below. In the last hourly bar, the price made it to the MA line and it did trade above (the MA come sin at 0.8472 and the higher reached 0.8476), but we are seeing a rotation back lower a bit. We are trading at 0.8465. The low this hour reached 0.8455. So traders seem to be respecting the MA line into the London close.