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FxWirePro: EUR/GBP struggles to hold gains above 0.8815, bias higher

  • EUR/GBP struggles to hold gains above 0.8815 resistance.
     
  • The pair edges lower to currently trade around 0.8493, bias remains higher.
     
  • ECB minutes from the September meeting due today will provide impetus for further direction.
     
  • Decisive break above crucial 0.8815 resistance could see test of 0.8885 levels. 
     
  • Technicals are bullish and support further upside, though indicators remain in heavily overbought territory.
     
  • We see resumption of weakness only below 20-DMA at 0.8595.
     
  • Our previous call (http://www.econotimes.com/FxWirePro-EUR-GBP-spikes-to-fresh-highs-since-Aug-2013-bias-higher-329162) has hit all targets.
     
  • Market Data
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