Forex technical analysis: EURGBP is testing topside trend line

Technical Analysis

Author: Greg Michalowski | forex-technical-analysis

Spikes higher after CPI

The EURGBP has spiked after the data as the EURUSD breaks above MA levels (200 week MA at 1.1776 and 200 hour MA at 1.1797) but the GBPUSD stalls near the 1.3000 level and its 100 hour MA at 1.3001. 


For the EURGBP, the pair is up testing topside trend lines at 0.9100 and 0.9110 respectively.  Key technical level for the pair.

Looking at the weekly chart, the price is getting closer to the 2016 high at 0.91447 level. A move above would have the EURGBP trading at the highest level since 2010 for the pair.