EUR/GBP had broken above major trendline resistance at 0.87 on Friday.
The pair has breached 50% Fib retrace of retrace of 0.9225 to 0.8304 fall at 0.8764.
Positives for EUR:
Latest poll of French voter intentions on Saturday showed Emmanuel Macron is still likely to defeat Marine Le Pen.
Positive data from the Eurozone with good trade balance and current account numbers.
Major risk events:
ECB president Draghi's speech later in the European session.
BoE's March 16 monetary policy meeting.
Support levels - 0.8764 (50% Fib retrace of 0.9225 to 0.8304 fall), 0.8713 (trendline and 5-DMA), 0.87
Resistance levels - 0.88, 0.8852 (Jan 16 high), 0.8873 (61.8% Fib)
Good to go long on dips around 0.8765/75, SL: 0.8710, TP: 0.88/ 0.8850/ 0.8870
The pair has breached 50% Fib retrace of retrace of 0.9225 to 0.8304 fall at 0.8764.
Positives for EUR:
Latest poll of French voter intentions on Saturday showed Emmanuel Macron is still likely to defeat Marine Le Pen.
Positive data from the Eurozone with good trade balance and current account numbers.
Major risk events:
ECB president Draghi's speech later in the European session.
BoE's March 16 monetary policy meeting.
Support levels - 0.8764 (50% Fib retrace of 0.9225 to 0.8304 fall), 0.8713 (trendline and 5-DMA), 0.87
Resistance levels - 0.88, 0.8852 (Jan 16 high), 0.8873 (61.8% Fib)
Good to go long on dips around 0.8765/75, SL: 0.8710, TP: 0.88/ 0.8850/ 0.8870