FxWirePro: EUR/GBP extends range trade below 200-DMA, pound under pressure ahead of UK lockdown extension

EUR/GBP chart - Trading View 

EUR/GBP is extending range trade for the 3rd straight session, bias remains neutral to slightly bullish.

The pair was trading at 0.8712 at around 09:45 GMT, with session highs at 0.8727 and lows at 0.8702.

Sterling under pressure ahead of UK lockdown extension, UK government will likely extend restrictions for another three weeks.

The first Brexit talks resumed after a long break. Any progress may boost the pound while acrimony may send it lower.

GMMA shows major trend is Neutral and minor trend is bearish. Bears are struggling to extend 200-DMA break.

Price action is hovering around 110-EMA, retrace above 200-DMA will negate bearish bias.

Support levels - 0.8704 (110-EMA), 0.8624 (daily cloud)

Resistance levels - 0.8743 (200-DMA), 0.8812 (21-EMA)