CAN GBP/EUR STILL KEEP RISING AFTER 12% RISE?

WHAT IS BRITISH POUND GOING TO DO AGAINST THE EURO?

Between July 31 last year and September 30 this year the GBP/EUR rose by 12.5 percent. From an exporters point of view the Brits can't be too happy with the rise coming at a time when exporters would rather devalue their currency than see it appreciating in value. Have a look at the chart below and you can't help being impressed how the support across the lows and the uptrend stayed intact. The big question now: is this a platform to fire an advance to a new high or is it a top? There is going to be some action!