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FxWirePro: EUR/GBP struggles to hold above 50-DMA, UK trade data in focus

Friday, September 9, 2016 5:51 AM UTC

EUR/GBP failed to hold above daily 50-MA yesterday, trades a narrow range into the Euroepan open.
The pair is currently holding above 10-DMA support at 0.8446, daily cloud is also strong support.
Our previous call (http://www.econotimes.com/FxWirePro-EUR-GBP-upside-capped-by-5-DMA-at-08392-long-break-above-274335) has hit TP1&2.
Due ahead in the European session UK trade data along with German current account surplus likely to determine further direction for the pair.
Major support levels - 0.8446 (10-DMA), 0.8425 (cloud top), 0.8420 (5-DMA), 0.8333 (Sept 6 low), 0.8325 (trendline).
Major resistance levels - 0.8476 (50-DMA), 0.8495 (Sept 8 high), 0.85, 0.8524 (20-DMA & trendline).

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FxWirePro: EUR/GBP struggles to hold above 50-DMA, UK trade data in focus

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