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FxWirePro: EUR/GBP refreshes monthly highs above 0.86 handle, single currency shrugs off mixed vaccine news
EUR/GBP chart - Trading View
EUR/GBP is trading 0.21% higher on the day at 0.8607 at around 06:30 GMT, extending the previous session's whopping 1.14% gains.
The single currency shrugs off mixed vaccine news as EUR/GBP looks set to extend gains.
According to Business Insider reports, Germany is set to receive up to 880,000 covid vaccine doses shorter from Moderna Inc, as the delivery of the jabs planned for the end of April is canceled.
Further, reports from Italian daily, La Repubblica show that the European Medicines Authority (EMA) is expected to say that the blood clot cases are 'likely' linked to AstraZeneca vaccine.
That said, UK Health Secretary Matt Hancock announced the rollout of Moderna Inc.’s covid vaccine from Wednesday, which will help reduce concerns over the shortage of AstraZeneca’s jabs.
Technical bias for the pair has turned bullish. Stochs have rolled over from oversold levels and RSI is above 50 mark.
Bullish divergence on RSI and Stochs keeps scope for upside. Price action has broken above 21-EMA and is on track to test daily cloud at 0.8678.
21-EMA at 0.8568 is strong support. Failure to hold above will negate any bullish bias.