Forex technical analysis: EURGBP tests highs

Sell high traders trying to keep a lid on it

The EURGBP is up testing the highs for the day and near the highs for the year (highs going back to August 2013).  

Looking at the 4-hour charta above, the high for the day was just taken out at 0.86095 but only by a pip so far....Looking back, the highs from July - and for the year - stalled at 0.86125 and 0.8624 respectively. A move above will take the price to the highest level since August 28, 2013. I would expect some cause for pause in the 0.8613-24 area on this test. 

The rise has helped the EURUSD move higher in the process. The GBPUSD meanwhile treads water above support at 1.2954 but below trend line resistance at 1.2990 area.