EUR/GBP Technical Analysis: Bullish momentum tests a short-term ascending trend-channel resistance

   •  The cross built on its recent positive momentum and has now reversed all of its monthly losses to near four-month lows, touched earlier this month. 

   •  The up-move has been along a short-term ascending trend-channel formation on the daily chart and now seems to have paused near the channel resistance.

   •  Technical indicators on hourly charts are still far from being in overbought territory and have also started catching up with the positive momentum on the daily chart.

   •  The set-up support prospects for an extension of the bullish move and the same will be confirmed on a sustained move beyond the trend-channel resistance.
 

EUR/GBP 4-hourly chart