ANALYSIS
NQ100 Finds Support from PPIApr 14
Falls halted in EURGBP
Despite the ECB's loose monetary policy stance, the pair was under sales pressure as a result of the expectations that the BoE will head to interest rate hikes before the end of the year. Hence, EURGBP lost momentum today. Technically, we will closely follow the upper band of the descending wedge pattern and if this band is exceeded and the pair stays above 0.8465 resistance, the new target might be 0.8485 resistance level. In case, the bearish moves start again, 0.8420 – 0.8400 range will be on our radar.
0.8420 – 0.8400 – 0.9380
0.8465 – 0.8485 – 0.8500
