Brexit hope sends the EURGBP back lower

The comments from PM May has helped to send the GBPUSD higher. That move has sent the price toward its 200 hour MA at 1.38812. The high price moved reached 1.3876. Risk is now 1.38347.

The move higher has also send the EURGBP lower.

Looking at the 4-hour chart below, the pair moved above a ceiling area on Friday and into today at 0.8909-186, but that break failed. The last push has sent the price down to test its 200 day MA at 0.88836 and the 38.2% just below that level at 0.8883. The low just reached 0.88838.