FxWirePro: EUR/GBP rangebound, focus on UK inflation data and German Zew sentiment
EUR/GBP halts two consecutive sessions of losses to edge higher on the day, currently trading by day's highs at 0.7741. Techs suggest downside in the pair, RSI is retracing after hitting near 70 levels and points south, …
EUR/GBP halts two consecutive sessions of losses to edge higher on the day, currently trading by day's highs at 0.7741.
Techs suggest downside in the pair, RSI is retracing after hitting near 70 levels and points south, Stochs show bearish crossover from overbought territory.
Immediate resistance is seen at 0.7763 (5-DMA), while 0.7697 (Feb 15th low) is immediate support on the downside.
UK's inflation figures and the German ZEW Survey due later in the EU session will be in focus for further direction.
Surveys see UK headline CPI to have risen at an annualized 0.3% during last month, up from December's 0.2% gain.
