FxWirePro: EUR/GBP rangebound, price action capped within daily cloud
EUR/GBP under pressure near 0.7770 region, trades a tight range into the European session. Pair is under renewed selling pressure, on the back of a broadly stronger pound amid growing support for the ‘remain’ camp with r…
EUR/GBP under pressure near 0.7770 region, trades a tight range into the European session.
Pair is under renewed selling pressure, on the back of a broadly stronger pound amid growing support for the ‘remain’ camp with regard to EU referendum.
Traders wary ahead of the crucial central bank events due later this week – FOMC and BOJ policy outcomes.
Immediate resistance is located at 0.7786 (cloud top), while support is seen at 0.7750 (April 25th lows).
Momentum with the bears, RSI weak at 36, while MACD and major moving averages are biased north.
Break below 0.77 handle cloud accentuate downside, test of 0.75 levels then likely.
