EURGBP Analysis
*UK Johnson/France Macron speak: Agree on importance of making progress this month*
Leaders speak... EURGBP near session highs.
UKs Boris Johnson and France's Macron spoke today. The headlines say:
â–ªagreed on importance of making progress on Brexit this month and reaching a conclusion on talks quickly
▪Discussed UK – French cooperation on coronavirus
Stating the obvious, but the heat is on and the pound GBP remains near lows.
Taking a look at the EURGBP, it is trading near its highs for the day. The pair based near its 200 hour moving average in the Asian session and subsequently extended above its 100 day moving average at 0.89537 (a risk level for longs now).
The high for the day reached 0.8993 which is also the 61.8% retracement of the move down from the August 20 high. The natural resistance at 0.9000 is the next upside target to get to and through. The current price trades at 0.8980.