• EUR/GBP upside builds momentum with clean break of 200DMA (0.8384)

• The cross has also made move above the 55WMA (0.8430)

• Though the weekly close will be key given multiple failures in recent years

• As noted previously, door is open for a test of the YTD highs

• Overall, initial target is for a test of 0.85 with the 200WMA above (0.8547)

• With headwinds remaining for GBP ahead of the Mar 26 budget update

• Risks to EUR/GBP are on the topside with dips likely to be shallow

• 2017 & 2020 playbooks suggest EUR/USD can hit 1.15
EURGBP weekly chart


eurgbp daily chart

(Justin McQueen is a Reuters market analyst. The views expressed are his own.)