- EUR/GBP remains trapped in a multi-week bearish channel.
- A breakout would activate twin bullish cues and expose resistance at 0.92.
EUR/GBP is trading near 0.9080 – the upper end of the bearish channel represented by trendlines connecting Sept. 11 and Sept. 23 lows and Sept. 17 and Sept. 28 lows.
A close above that level would activate twin positive cues: it would confirm a falling channel breakout and validate the reversal higher signaled by Tuesday’s bullish outside day candle.
As such, a breakout would shift the focus to resistances at 0.9162 (Oct. 7 high) and 0.9221 (Sept. 22 high).
Alternatively, a breakdown below Tuesday’s low of 0.9019 would confirm a bearish revival and expose the channel support at 0.8927.
Daily chart
Trend: Bullish above 0.9080
Technical levels
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