EURGBP New Channel Up aiming at 0.87500

The EURGBP pair has formed a Channel Up since the March 07 2022 bottom as on May 06 2022 it broke above both Lower Highs trend-lines of the 2021 correction, practically confirming the shift from the bearish trend to the bullish trend on the long-term.

The 1D MA50 (blue trend-line) and the 1D MA200 (orange trend-line) have successfully formed a Support zone as the former held on the latest Higher Low of the Channel Up on May 17. We should now see a Higher Higher at 0.86500 and after the profit-taking pull-back, a new HH around 0.87500.

Tradingview link:

https://www.tradingview.com/chart/EURGBP/tuq9GHas-EURGBP-New-Channel-Up-aiming-at-0-87500