Another quiet day in the currency markets today with most majors trading close to their opening levels. UK’s manufacturing production came in at 0.4% from 0.3% expected but sterling’s reaction was limited. Eur/usd started the day moving lower but found support on dips and ends the day flat. All other majors traded in narrow ranges and volatility is not expected to pick up for the rest of the day.
EURGBP Daily chart
Price broke out of the descending triangle but finds resistance around 0.8350 area. A break and close above this level is needed to accelerate momentum.
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