The common European currency is gradually edging higher in an ascending channel pattern against the British Pound. The currency pair has surged by 5.56% since May 1.

As for the near future, the EUR/GBP exchange rate will most likely continue to trend in the ascending channel pattern. The potential target for bullish traders would be at the 0.9400.

However, the weekly resistance level at 0.9116 could provide resistance for the currency exchange rate within this week’s trading sessions.

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