FxWirePro: EUR/GBP capped below 100-DMA, focus on Eurozone manufacturing PMI

• EUR/GBP extends narrow range trade, remains capped below 100-DMA currently at 0.8629
   
• The pair extends sideways grind for the second consecutive week. 
   
• Upcoming UK Autumn Budget on 23 November remains the major trigger for further direction in the pair.
   
• Other major risk events this week include highly influential FOMC Minutes, Euro area flash manufacturing PMI reports, US durable goods data and German Ifo surveys. 
   
• Technical indicators are also inconclusive at the moment. We prefer to wait or clear direction.
   
• Major support levels - 0.8485 (trendline), 0.8408 (50% Fib), 0.84. 0.8334 (Sept 6 low)
   
• Major resistance levels - 0.8580 (5-DMA), 0.86 (38.2% Fib), 0.8635 (Nov 18 high)
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FxWirePro's Hourly EUR Spot Index was at7.50365 (Neutral), while Hourly GBP Spot Index was at -10.5366 (Neutral) at 0600 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex