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EUR/GBP: close to important resistance

EUR/GBP rose to 0.8480 (55-day MA) as Britain released lower-than-expected CPI figures (inflation declined from 2.8% to 2.4%) which allow the Bank of England to add stimulus.

EUR/GBP has a chance break above the falling wedge pattern. Yet, the pair’s still below the bearish daily Ichimoku Cloud.

Key resistance is at 0.8500(psychological level). Further resistance will be at 0.8515 and 0.8565. Support is at 0.8445, 0.8400 and 0.8360.

Tomorrow there will be more volatility ahead of the latest MPC minutes and retail sales data. 

Chart. Daily EUR/USD

GBP
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