The single European currency has continued to be trading in several channels against the Pound Sterling. Meanwhile, a new junior ascending channel has been spotted as can be observed on the chart.
Following a re-test of the lower boundary of the junior ascending pattern last week, bulls strengthen their position, as a result, the currency pair breached a strong resistance set by the weekly and monthly PPs at 0.8780.
As for near future, the EUR/GBP currency exchange rate is likely to continue its bullish momentum until the newly formed pattern is broken. In the meantime, technical indicators flash buy signals.
