FxWirePro: EUR/GBP largely rangebound, markets await eurozone sentiment index and consumer confidence data

• Brexit risks will keep GBP weak vs its peers. Also, as the domestic economy has lost some momentum the BoE is likely to remain on hold until Q4. 
   
• Three-month implied volatility gauge rose to almost six-year high last week, indicating investors are bracing up for a sharp swings. 
   
• EUR/GBP largely rangebound on the day, with day's high at 0.7858 and lows at 0.7843.
   
• Eurozone business climate and sentiment index on the tap today along with consumer confidence and inflation expectations.
   
• The pair has taken trendline support at 0.7830 and edged higher, but we do not see scope for much upside. 

Resistance Levels:

R1: 0.7869 (5-DMA)

R2: 0.7872 (Mar 29th highs)

R3: 0.7885 (Mar 16th highs)

Support Levels:

S1: 0.7835 (Rising trendline)

S2: 0.7834 (4H 110 EMA)

S3: 0.7830 (Mar 29th lows)