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FxWirePro: EUR/GBP rangebound, focus on German GDP data

EUR/GBP largely rangebound on the day after after hitting yearly highs of 0.7897 on Thursday.
 

  • Weekly charts show further upside for the pair, tests of 0.8065 levels look likely.
     
  • Price action is well above the cloud and 200-DMA and momentum studies are bullish.
     
  • Immediate support is seen at 0.7792 (5-DMA) and then at 0.7713 (Feb 10th lows). Weakness only on breaks below 10-DMA at 0.7705.
     
  • Markets focus on German GDP and inflation data due ahead in the European session for further clues on direction.

 

  • Market Data
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