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EUR/GBP chart - Trading View
EUR/GBP was trading 0.28% higher at 0.8784 at around 12:30 GMT.
The pair has been extending sideways grind above 200-DMA and scope is building for further upside.
The sterling is expected to remain under pressure against the backdrop of rising confusion over the handling of the coronavirus crisis by the UK government.
Uncertainty surrounding UK-EU trade negotiations and the probability that the BoE could pump in extra stimulus at the next meeting also weighs on the pound.
On the data front, euro area flash Q1 GDP data due later this week will be in focus for further impetus.
Price action has broken above 21-EMA, technical indicators are turning bullish. RSI has edged above 50 mark and Stochs have edged higher.
GMMA indicator shows neutral bias. Break above 21-EMA has opened upside. Scope for test of daily cloud at 0.8890.
