EURGBP moves to highest level since March 31

Price extended above recent swing high levels

The EURGBP is moving higher today as Brexit concerns weigh on the GBP.  

The price has moved above the weeks highs at 0.88766 (from Wednesday).  Earlier the price moved above the double top from April 7 and April 21 at 0.8862. Both yesterday and on Wednesday the price moved above those levels but could not stay above. Today’s move has more upside momentum. 

Drillling to the hourly chart, the price has also moved above a topside trend line connecting may swing highs. That level comes in at 0.8893 and represents close risk now for the longs/buyers.  Stay above is more bullish, moved below takes some of the steam out of the trend run higher today.

EURGBP

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