EUR limited with narrow trading versus GBP
4/19/2017 10:12:42 AM
According to Forex market, the EUR/GBP cross appears to have entered a bearish integrative point and stayed limited within a narrow trading range just above mid-0.8305s.
With both the GBP/USD and the EUR/USD majors merging previous session's strong gains, the cross required any follow through momentum and has held above previous session fluctuating lows to 0.8305 area.
Immediate persistence is fixed near 0.8377 zone, above which the cross is probable to aim towards regaining the 0.8415 handle and aim to test its next persistence near 0.8423 area.
On the other hand, decline below 0.8347 area might turn the cross at risk to head back towards several month lows support near the 0.8305-0.8315 area, below which the devaluing move could get expanded towards mid-0.8240s.