Forex Trading - EUR/GBP Breaking the Channel and Pushing Higher

Reviewing the hourly chart for the Euro Sterling pair, the story of this session is clear with the Sterling trading weaker across the board, as sentiment regarding the UK economic situation continues to deteriorate. After opening the trading day/week around the 50% Fibonacci retracement level, the Sterling has continued to weaken as the pair has broken the channel below to the upside, as well as the 61.8% retracement and looks poised to test recent high's. In a light data session, the Sterling is the mover of the trading day, refer back later for reviews of other GBP related currency pairs.