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EUR/GBP closes below 200 day moving average as Pound beats all before it

The price action in the EUR/GBP has been difficult to navigate over the past couple of weeks. Since rising above its 200 day moving average on October 19, the EUR/GBP has been see-sawing either side of that level, but until Friday it had always managed to close back above it. Well, that was not the case on Friday and the charge higher in the GBP/USD (to as high as 1.2390) delivered a daily and weekly close below the 200 day moving average for the first time since October 19. That speaks volumes  about the performance of the pound ahead of the weekend. The EUR/GBP dropped to 0.8664 and later closed the week, pretty much on session lows, at 0.8666. Following on from an earlier update here today, noting the performance of the GBP/USD, you can see it was the best performing major currency on Friday and it has been a good long while since I can throw that title at it. The EUR/GBP 200 day moving average is still in place this morning at 0.8692. The Euro has traded to 0.8676 earlier today, but it is right now closer to session lows (0.8664), at 0.8668
 

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