FxWirePro: EUR/GBP stuck in tight range, focus on BoE policy meet

• EUR/GBP trades an extremely tight 13 pip range as we head into the European session.
   
• The pair was rejected above 20-DMA on Tuesday's trade.
   
• Momentum studies are neutral, with a slightly bullish bias.
   
• 100-DMA at 0.8651 is major resistance on the upside. Break above to see test of 0.88 (trendline).
   
• Euro area final manufacturing PMI reports and EU economic forecasts on tap later in the European session ahead.
   
• BoE Super Thursday will also be a major driver. 

Support levels - 0.8445 (5-DMA), 0.8522 (50-DMA), 0.8470 (Jan 26 low) 

Resistance levels - 0.86, 0.8617 (20-DMA), 0.8651 (100-DMA)

TIME  TREND INDEX  OB/OS INDEX    

1H          Neutral              Neutral       
4H          Bullish               Neutral       
1D          Neutral              Neutral        
1W         Neutral              Neutral        

Recommendation: Good to go long on break above 100-DMA at 0.8651, SL: 0.8545, TP: 0.87/ 0.8760/ 0.88

FxWirePro Currency Strength Index: FxWirePro's Hourly EUR Spot Index was at 43.5985(Neutral), while Hourly GBP Spot Index was at -60.276 (Bearish) at 0640 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.