FXstreet.com (Barcelona) - The EUR/GBP 4-days rally has found a important resistance level at 0.9250 after it rose around 60 pips along the today's session from the 0.9190 (intraday low).
The Euro has been rising the last four days from the 0.8850 (March 6 low) to the today's high at 0.9248, in this way, the pair broke the 0.9055 descendant resistance line which is forming a symmetrical daily triangle with the ascendant line of 0.8850 support.
Today, the EUR/GBP has been inside the 0.9200/0.9250 band. Currently, the pair is trading around the 0.9225/45, in a new attempt to try to break the important resistance of 0.9250.
According to Valeria Bednarik, FXstreet.com Collaborator, the Pound's weakness could send to the Euro to historical levels: EUR/GBP continues pushing higher due to weak GBP. The pair has broken to the upside a symmetrical daily triangle (continuation figure) and halted the rally at the key 0.9250 zone. In the longer term, the pair has corrected the 50% of the Fibonacci rally 0.7740/0.9770, so above that key mentioned zone, the pair will attempt to test 0.9305 23.6% of the mentioned rally. Break above that zone, could send the pair to retest historical highs.