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FxWirePro: EUR/GBP trades a narrow range, awaits UK and EU PMI data

EUR/GBP trades largely range-bound on the day, with the day's high at 0.7821 and lows at 0.7802. Pair is holding just above the 0.7800 handle, which is key support, breaks below could see downside to 0.77 levels. On the …

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FxWirePro: EUR/GBP trades a narrow range, awaits UK and EU PMI data
Image from the original EconoTimes article

EUR/GBP trades largely range-bound on the day, with the day's high at 0.7821 and lows at 0.7802.

  • Pair is holding just above the 0.7800 handle, which is key support, breaks below could see downside to 0.77 levels.
     
  • On the upside, 0.7819 is immediate resistance which is 5-DMA and Feb 10th highs, next resistance lies at 0.7845 (Feb 17th highs).
     
  • Technicals indicate further downside in the pair, with daily Stochs and RSI pointing south.
     
  • Market now await PMIs from UK and the euro area due ahead in the European session for further direction in the pair.

 

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