- EUR/GBP is posting marginal gains on the day and is currently trading above 5-DMA at 0.7763.
- Calendar remains absolutely data-dry, with only Euro zone industrial production on the cards.
- The pair has resumed consolidative pattern after volatile trade post ECB rate cut decision.
- Technicals are inconclusive, we would prefer to remain on the sidelines for now.
Resistance Levels:
R1: 0.7792 (Mar 8th highs)
R2: 0.78
R3: 0.7812 (Feb 16th highs)
Support Levels:
S1: 0.7713 (Mar 7th lows)
S2: 0.7704 (23.6% Fib 0.69810 to 0.79280 rise)
S3: 0.7695 (Feb 16th lows)
