FXstreet.com (Barcelona) - The EUR/GBP has been rising more than 100 pips along the European and American session from the 0.9190, today's low, to reach and test the 0.9303 level, maximum since Jan 28, after it broke the 0.9250 last resistance.
The Euro has been rising the last four days from the 0.8850 (March 6 low) to the today's high at 0.9303, 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.
Currently, the EUR/GBP is trading around the 0.9260/80, after test and been rejected slightly by the 93.05 resistance level.
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.