FxWirePro: EUR/GBP struggles to hold gains above 0.8815, bias higher
Thursday, October 6, 2016 9:05 AM UTC
- 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.