EUR/GBP chart - Trading View
EUR/GBP was trading largely muted on the day with session high at 0.9084 and low at 0.9066.
The pair is likely consolidating previous session's stellar rise, where price closed 0.83% higher at 0.9071.
The EU’s 25 member states backed the post-Brexit deal clinched on Christmas Eve, to be “provisionally applied” at the end of the year.
However, the deal leaves some major issues still unresolved. Brexit deal disappointment and Covid-19 concerns weigh on pound sterling.
From a technical perspective, bias remains neutral with a slight bullish tilt. Pullbacks have held strong support at 200-DMA and any major weakness only on break below.
On the upside, price is comatose at cloud top. Momentum is flat with RSI holding just above the 50 mark.
Breakout above cloud with a bullish shift in momentum required for upside continuation. Till then price action is likely to be confined to familiar ranges.
