The common European currency declined by 2.79% against the British Pound during last week’s trading sessions. The currency pair tested the lower line of an ascending channel pattern at 0.8959 on December 24.
The exchange rate bounced off from the support line formed by the lower boundary of the ascending channel during yesterday’s trading session.
Most likely, the EUR/GBP currency exchange rate could continue to edge higher during this week’s trading sessions.
The possible target for the currency exchange rate would be near the 0.9200 level.
