EUR/GBP Technical Analysis: Now looking to build on the momentum beyond 200-day SMA

   •  The cross, over the past two weeks or so, has been trending higher along a short-term ascending trend-line and is now looking to build on the momentum further beyond the very important 200-day SMA. 

   •  Renewed Brexit uncertainties overshadowed Italian budgetary concerns and seemed to be one of the key factors behind the British Pound's relative underperformance against its European counterpart. 

   •  Given that the cross remains well above key intraday important moving averages - 50, 100 & 200-hour SMA, the positive momentum seems more likely to gather steam amid empty economic docket. 

   •  Meanwhile, bullish technical indicators on hourly charts further support prospects for additional gains, though are yet to catch up with the positive moment on the daily chart and thus, warrant some caution.

EUR/GBP 1-hourly chart