FxWirePro: EUR/GBP confined to narrow 15 pip range, UK retail sales data in focus
EUR/GBP has been confined to a narrow 15 pip range in the Asian session. UK retail sales data will be the last major release before the first estimate of GDP growth in Q3 is due next week. Markets will look forward to se…
EUR/GBP has been confined to a narrow 15 pip range in the Asian session.
UK retail sales data will be the last major release before the first estimate of GDP growth in Q3 is due next week.
Markets will look forward to see if retails sales for Sept confirm latest British Retail Consortium/KPMG data which reported retail sales rebounded by 1.3% y/y in Sept.
The pair finds stiff resistance at 0.90 levels, bias remains lower below 5-DMA at 0.8962.
Technical indicators on daily charts support downside, Stcohs, RSI and MACD support bears.
Major support levels - 0.8930 (hourly 20-SMA), 0.8848 (20-DMA), 0.8820 (trendline)
