TechnoMeter

The Euro continues to inch upward against the British Pound but the dominant price trend continues to favor a downside bias for the single currency. The pair has recovered to the highest level in nearly two months but price action remains firmly locked within a falling channel set from October 2017.



Major resistance comes in at 0.8904, the confluence of a former chart inflection point as well as the trend channel top. A close above that confirmed on a daily closing basis exposes the March 7 high at 0.8968. Alternatively, a turn below resistance turned-support at 0.8797 targets counter-trend support at 0.8730.

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