Forex: EUR/GBP holds steady at 2-week high
Despite the pair lost some points from its most recent high at 0.8340 (2-week high), the pull-back shed no significant amount to alter the bullish bias for the pair, which looks now set to consolidate above 0.8300.
On Wednesday, EUR/GBP opened at 0.8330 on the back of a 5-day winning streak for the Hegemonic currency. The pair traded in a tight range between 0.8313 (intra-day low) and 0.8337 (intra-day high). At present, the price sets at 0.8320.
“Longer term bias switched to bearish now that the cross has breached key support in 0.8400 area.
Intraday: we had the push to 0.8330 Fib level and 200 MA resistance. Bears might contain this level temporarily. Keeping the short term bullish bias favouring a test of 0.8400 handle”:
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