The common European currency continued to be constrained by several channels against the British Pound during the past few weeks. The currency pair has moved toward the upper border of a junior descending pattern.
During the last few days, the exchange rate has breached the 55-, 100-, and 200– hour SMAs and gradually moving north. However, a decisive movement has not be established as the pair continued to bounce between the up and lower boundaries of the junior pattern.
Technical indicators suggest that bulls could gain more ground over the currency exchange rate during the following trading session
