Eurusd stick to narrow trading ranges before the European Central Bank's policy announcement .ECB will continue to sound hawkish, because they continue to worry about inflation rather than growth
Tech outlook:
EURO is expected to give a mixed signals for the day. With the trading range expected between 1.5500-1.5620 levels for the day. With good support seen at 1.5480 levels and key resistance for the currency is seen at 1.5650.Momentum is signaling a downtrend and currency is also seen trading below the moving average remaining supportive for the red signal. But Stochastic is hinting towards the possibility of slight upward correction for intra day.
GBP is expected to continue its downtrend and is expected to trade range of 1.9680-1.9780.With good support seen at 1.9670 levels and resistance for the currency is seen at 1.9790 levels. Chart pattern hints towards bear trend and the currency is trading below the moving average confirming the bear note and is expected to test the lower Bollinger levels.
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