FxWirePro: EUR/GBP struggles at 0.87 handle, extends range trade for the 2nd consecutive session
EUR/GBP chart - Trading View
EUR/GBP was trading slightly weaker on the day at 0.8683 at around 11:30 GMT, after closing marginally higher on Wednesday's trade.
Data released earlier on Thursday showed Germany Consumer Price Index (MoM) meets expectations (0.5%) in March.
The pair is struggling to extend gains above 0.87 handle and is grinding sideways for the 2nd consecutive session.
Price action has broken into daily cloud and is holding above 55-EMA which is immediate support at 0.8665.
Bullish divergence on RSI and Stochs on the daily charts supports gains in the pair. Stochs at overbought warrant caution.
Analysis of GMMA indicator shows short-term moving averages have crossed over the longer-term moving averages.