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EUR/USD creeping towards 1.0800 again

Further to a slightly earlier update, noting the progress in the Pound versus the dollar, the GBP/USD has now lifted above its 200 day moving average and looks like it might have tripped a few stops on the way, or at least prompted some system based buyers out of the woodwork. The Pound has has made it to 1.2554 so far and in the process of that move, it has helped to lift the EUR/USD to session highs too. The low seen earlier was set at 1.0766. The EUR/USD closed on Friday at 1.0771. The high seen just now has been set at 1.0795. That is also just above its 200 day moving average, which is in place right now at 1.0792. That said, it does not looks like a conclusive break at this stage and once again the gains for the Euro look hard fought and possibly even by default. Besides it is right edging off that high, currently trading at 1.0789. However, the theme of some modest US dollar weakness versus Europe is clear to see just now 
 

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