EUR/GBP saw a gap up open and extended upside to hit session highs a four-week high of 0.7905.
Pair was however rejected at highs, slips below 0.79 handle to currently trade around 0.7886 levels.
Momentum studies are , , Stochastics and indicate upside.
0.7906 is stiff resistance which is 61.8% Fib retrace of 0.8117 (Apr 7th high) to 0.7565 (May 25th low).
Break above finds next hurdles at 0.7927 (weekly 200 MA), 0.7947 ( May 4th and Apr 24th) and then 0.80 (78.6% Fib).
On the downside, pair remains well supported above 50-DMA 0.7845 and 50% Fib at 0.7840.
Go long on decisive break above 0.79, SL: 0.7840, TP: 0.7945/0.80