EURGBP Eyeing 0.9190?


There was a nice upside move in the Euro, as it traded to a new monthly high of 0.9170 against the British Pound. The trend for EURGBP is very much bullish, and the pair might continue higher towards 0.9190.


The 0.9190 level is the 1.618 extension of the last wave from the 0.9142 high to 0.9062 low. The pair recently broke a minor channel pattern at 0.9162, which may act as a support.


On the downside, there is a crucial support forming near 0.9140 and a bullish trend line on the hourly chart. As long as the pair is above 0.9140, it would continue moving higher.


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