FxWirePro: EUR/GBP trades rangebound, UK PMI data to provide direction
EUR/GBP has been trading a tight range, day's high at 0.7613 and lows by 0.7596, bias is lower. On 4-Hourly charts, the pair has been trading a symmetrical triangle, and break out on either side required for further dire…
EUR/GBP has been trading a tight range, day's high at 0.7613 and lows by 0.7596, bias is lower.
On 4-Hourly charts, the pair has been trading a symmetrical triangle, and break out on either side required for further direction.
4-H cloud seen capping gains, break above would find next resistance at 0.7640 (trendline).
On the downside, immediate support is located at 0.7570 (trendline), ahead of 0.7561 (Jan 29th lows) and then at 0.7555 (21-DMA).
Doji formation on Friday's candle confirms traders' indecision, UK manufacturing PMI data (due later in the European session) to provide direction to the pair.
