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EUR/GBP rises to 4-week highs

FXStreet (Córdoba) - EUR/GBP rose above 0.7400 and reached the strongest level in a month, approaching August highs.

EUR/GBP: Will it hold above 0.7400?

The pair peaked at 0.7410 and the pulled back. The retreated from the highs found support at 0.7375 and currently is attempting to rise back above 0.7400. It is trading at 0.7395, up 0.67% for the day, headed toward the third daily gain in a row.

A consolidation on top of 0.7400 could have significant importance from a technical perspective favoring a bullish continuation. The last time if finished above 0.7400 was back in May 6; the next day it revered sharply.

EUR/GBP technical levels

In the short-term, to the upside, above 0.7400 resistance levels might lie at 0.7440 (daily high), 0.7425 (Aug 24 high) and 0.7455. On the opposite direction support could be located at 0.7375 (American session low), 0.7360 and 0.7320.

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