GBPs weakness sends the EURGBP shooting towward the swing highs
The GBP has been pushed lower on more Brexit uncertainty, and that weakness is also being felt in the EURGBP.
Looking at the daily chart above, the pair today bottomed near the 50% retracement and 100 day MA last week. Bullish.
ON Friday, the price was able to close above the 61.8%.
Today, the pair has run higher with an old trend line broken as well as some swing highs going back to October and November 2017 and a swing high from August. The September high at 0.9051 is the next target. Above that and the high for the year at 0.90978 (from August) will be eyed. The high for the day has reached 0.90466 today.