EUR/GBP chart on Trading View used for analysis
- EUR/GBP edges higher from 1-1/2 year lows at 0.8617, trades 0.29% higher on the day at 0.8663.
- We see a spinning top formation at lows on the daily charts which raises scope for further upside.
- But, we do not see any major shift in the technical indicators and bias remains bearish.
- UK Parliamentary vote will be a crucial market mover as MPs line up to vote on a series of amendments to May's "Plan B".
- Focus on Draghi speech (1400 GMT) for further impetus. Draghi may repeat last week's dovish message, capping gains in the EUR.
Support levels - 0.8620 (Apr 2018 low), 0.8398 (38.2% Fib)
Resistance levels - 0.87, 0.8713 (5-DMA), 0.8862 (200-DMA)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
