Thursday, October 15, 2026

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FxWirePro: EUR/GBP extends range trade, ignores lower-than-expected German retail sales

EUR/GBP has been oscillating within a narroe range between 0.7750-0.7800 region since the 25th April. Price action has been contained within the daily cloud and traders' indecision seen in the near-term. Data released on…

By FxWire Pro
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FxWirePro: EUR/GBP extends range trade, ignores lower-than-expected German retail sales
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  • EUR/GBP has been oscillating within a narroe range between 0.7750-0.7800 region since the 25th April.
     
  • Price action has been contained within the daily cloud and traders' indecision seen in the near-term. 
     
  • Data released on Friday showed German retail sales for March fell 1.1% widely missing expectations for a growth of 0.4%.
     
  • Muted reaction seen to poor German data. Pair remains below the 0.78 handle and bias is tilted towards the downside.
     
  • However, clear break of range needed to confirm direction. We recommend remaining on the sidelines for now.
     
  • Immediate support and resistance are seen at 0.77 (coud base) and 0.7820 (converged cloud top and 10-DMA) respectively.
     

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By FxWirePro Team