Peaks above a topside trend line on weekly chart
The EURGBP continues to eat into the 2009 highs. Looking at the weekly chart, the swing highs come in at 0.9411 and 0.9519. At the end of 2008, the price squeezed up to 0.9804. That is a lot of room to the upside.
What the pair did in the short term is move a trend line connecting the 2013 high with the 2016 high. That trend line cuts across at 0.9225 currently and is now risk for the longs.
Giddy up. The buyers remain in control.
