EUR/GBP 1H Chart: Channel Up

After a recent rebound from the pattern's resistance pair has reached pattern's support in a timely fashion. We can see a relative increase in the trading volume which points at an increased probability of momentum gain. As short and medium term technicals do not give clear indications bout pairs behaviour we  could take a look in to the market sentiment. Majority (59%) of open positions on the pair are short, however, 55% of pending orders are set to buy the euro against the pound. This might be just enough for the pair to bounce from the pattern's support and maintain bullish trend as indicated by the long term technicals.