Home EUR/GBP Price Analysis: Teasing a falling channel breakout

EUR/GBP Price Analysis: Teasing a falling channel breakout

Updated: 2 Dec. 2020 | 04:47

EUR/GBP is currently trading above the upper end of the falling channel, represented by trendlines connecting Sept. 11 and Oct. 20 highs and Sept. 28 and Nov. 11 lows.

The pair needs to print a convincing close above 0.8987 on Wednesday to confirm a bullish breakout. That would open the doors for 0.9069 (Nov. 5 high) and 0.91.

At press time, the pair is trading 0.12% higher on the day near 0.90. On the downside, the Dec. 1 low of 0.8929 is the level to beat for the sellers.

Daily chart

Trend: Bullish

Technical levels

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