FxWirePro: EUR/GBP Rangebound, Price Action capped Within Daily Cloud

FxWirePro: EUR/GBP Rangebound, Price Action capped Within Daily Cloud

26 April 2016, 09:18
Roberto Jacobs
0
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FxWirePro: EUR/GBP Rangebound, Price Action capped Within Daily Cloud

  • EUR/GBP under pressure near 0.7770 region, trades a tight range into the European session. 
  • Pair is under renewed selling pressure, on the back of a broadly stronger pound amid growing support for the ‘remain’ camp with regard to EU referendum. 
  • Traders wary ahead of the crucial central bank events due later this week – FOMC and BOJ policy outcomes.  
  • Immediate resistance is located at 0.7786 (cloud top), while support is seen at 0.7750 (April 25th lows). 
  • Momentum with the bears, RSI weak at 36, while MACD and major moving averages are biased north. 
  • Break below 0.77 handle cloud accentuate downside, test of 0.75 levels then likely. 


The material has been provided by InstaForex Company - www.instaforex.com



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