The single European currency has surged by 2.09% against the Pound Sterling since July 13. The currency pair breached the 50-, 100– and 200– period SMAs during the past two weeks.
Technical indicators flash buying signals on all time frames. Most likely, the EUR/GBP exchange rate will continue to edge higher during the following trading sessions.
However, the weekly resistance level at 0.9164 could provide resistance for the currency exchange rate in the shorter term.
