Last week the bulls on EURGBP first defeated the level 0.7165 and next 0.7220 to end the week at 0.7225. Today, with great momentum bulls were able to break the next resistance at 0.7310 and price moves to the level 0,7380. Breaking this last level will open way to the 0.7480.
On the daily chart EURGBP also looks bullish. Downtrend channel where EURGBP moves from beginning of 2015 was breached out today’s morning. It is probable that price will pull back and make retest of the broken channel or if the trend will be strong enough, we may not see any correction.
