Chart of the Day – #EURGBP – (January 24th, 2022)

The EURGBP has been in a descending channel Since Spring 2021, and the pair just rallied past the .8380 breakdown point leaving the bears the “bag holders” near term. The squeeze higher should accelerate higher towards the 200dma should a break of the 50dma (.8430) occurs. The RSI has also broken higher too confirming the squeeze higher.