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Apr 06 - 11:55 AM

EUR/GBP - Upside To Remain Capped At Familiar Resistance

By Justin Mcqueen  —  Apr 06 - 09:40 AM
  • Pre-NFP and holiday USD short covering pressures sterling

  • EUR/GBP edges back towards key resistance at the 100DMA (0.8782)

  • 100DMA provided firm support on the downside, now a cap on the upside

  • Support: 2023 low (0.8719) and 200DMA (0.8697)

  • Range-trading in EUR/GBP likely to persist amid calmer conditions

  • GBP/USD drops towards 1.24 before Fed hawk Bullard talks nL1N369130

Source:
Refinitiv IFR Research/Market Commentary

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