EUR/GBP breaks above 0.9100 for the first time since September last year
The breakout in the pair continues upon a firm break above the 200-day MA (blue line) as well as the 0.8800 level as we now see the pair climb above 0.9100.
There are some daily resistance levels around 0.9123 to 0.9149 but beyond that, there isn't much in the way of stopping the pair from rising towards the August high at 0.9325.
The breakout in the pair is also one of the reasons contributing to the pound weakness over the past week with the currency still unable to get off the floor - as evident with cable, even as the dollar is weaker - in trading today.
After hitting a low just under 0.8300, the pair is now up by over 800 pips in over four weeks and is looking to keep with the upside break still.
I would argue that a retracement should be coming soon but if cable starts to sink towards 1.2000, there is still room for the pair to roam over the next few sessions.
However, unless the pair threatens a break back above the August high, it appears to be nearing some form of topside soon from a technical perspective, so this could be a key spot to watch in case for a turnaround in the pound.
In between, keep an eye on risks posed by post-Brexit talks and how the UK is handling the virus outbreak. They are one of the few countries choosing to allow a "natural progression" in terms of allowing the virus to spread, so just watch out for that.