FxWirePro: EUR/GBP edges higher from session lows, awaits BOE’s rate decision

EUR/GBP has edged higher from session lows at 0.7042, and is currently trading at 0.7067.

• Immediate resistance is located at 0.7111 (Daily High Nov 4) and support is seen at 0.7055 (Daily Low Nov 4)
• Sterling bulls wait on the sidelines ahead of the BOE's rate decision, minutes and quarterly inflation report
• Momentum still with the bears, further weakness is on the cards, breaks below 0.7025 could take the pair to 0.6950 levels

Resistance Levels:

R1: 0.7111 (Daily High Nov 4)
R2: 0.7145 (10 DMA, High Nov 3)
R3: 0.7152 (Tenkan-Sen)

Support Levels:

S1: 0.7055 (Daily Low Nov 4)
S2: 0.7027 (Daily Low Aug 18)
S3: 0.7016 (Daily Low Aug 7)