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  • EUR/GBP jumped 0.7% last week but failed to exit a bearish channel. 
  • A breakout would imply an end of the bearish trend from Sept. 11 highs near 0.93.

EUR/GBP is currently trading unchanged on the day near 0.8973. 

The pair jumped 0.70% in the five days to Nov. 27, carving out of a bullish outside week candle. However, the pair failed to take out the resistance of the falling channel represented by trendlines connecting Sept. 11 and Oct. 20 highs and Sept. 28 and Nov. 11 lows. 

As such, the bias remains neutral. A close above the channel’s upper end is needed to confirm a bullish reversal and expose the lower high of 0.9069 created on Nov. 9. 

Daily chart

Trend: Neutral

Technical levels