Bullish print added to the EUR/GBP chart

The 50-SMA closes above the 200-SMA on 4hr charts, leaving a key support level on the downside.

More EUR/GBP traders could be joining the bullish bandwagon upon this signal, while others might chose a less vulnerable placement by expecting the price to fall minimally to the 200-SMA and only then targeting for higher levels.

A clear break and stability below the all-important 200-SMA would negate the bullish implications of the crossover signal.