The common European currency surged by 145 pips or 1.63% against the British Pound during last week’s trading sessions. The currency pair was guided up by the 200– period simple moving average.
All things being equal, the exchange rate could continue to edge higher within this week’s trading sessions. The potential target for buyers could be at the weekly R2 at 0.9101.
However, the weekly R1 at 0.9037 could provide resistance for the EUR/GBP currency exchange rate during the following trading sessions.
