FxWirePro: EUR/GBP extends gains on diminishing odds of BoE rate hike, eyes 61.8% Fib at 0.9044

• EUR/GBP resumes upside, extends gains above 0.89 handle, more upside on cards.
   
• The pair is trading at 0.8952 at the time of writing, up 0.08% on the day. 
   
• Series of poor data continue to dent prospects for the UK, casting doubt on future rate hikes to come.
   
• Also, Brexit uncertainty to keep pressure on the pound, supporting upside in the pair.
   
• Technical indicators support further gains in the pair. We see scope for test of 61.8% Fib at 0.9044.
   
• We see bullish invalidation only on break below 200-DMA. 

Support levels - 0.8908 (5-DMA), 0.8855 (21-EMA), 0.8818 (200-DMA)

Resistance levels - 0.8968 (Mar 7 high), 0.9014 (Nov 15 high), 0.9044 (61.8% Fib) 

Call update: Our previous call (https://www.econotimes.com/FxWirePro-EUR-GBP-off-4-month-highs-holds-above-089-handle-bias-higher-1405357) is progressing well.

Recommendation: Stay long for further upside.