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   “¢   The cross trimmed a part of its early gains and has now retreated back to the 0.8600 handle in reaction to the change in ECB’s rate guidance, now sees holding steady at least through this year.

   “¢   Despite a modest pull-back, the fact that the cross is holding above 200-hour SMA clearly points to bearish reluctance amid reemerging Brexit uncertainties over the Irish backstop issue.  

   “¢   Meanwhile, technical indicators on hourly charts have been gaining positive traction but maintained their bearish bias on the daily chart, warranting some caution for bullish traders.

   “¢   Hence, it would be prudent to wait for a sustained move in either direction as the focus now shifts to the ECB President Mario Draghi’s post-meeting press conference for some fresh impetus.

EUR/GBP 1-hourly chart

EUR/GBP

Overview:
       Today Last Price:  0.8601
       Today Daily change:  17  pips
       Today Daily change %:  0.20%
       Today Daily Open:  0.8584
Trends:
       Daily SMA20:  0.8685
       Daily SMA50:  0.879
       Daily SMA100:  0.8836
       Daily SMA200:  0.8857
Levels:
       Previous Daily High:  0.862
       Previous Daily Low:  0.8577
       Previous Weekly High:  0.8702
       Previous Weekly Low:  0.8529
       Previous Monthly High:  0.8842
       Previous Monthly Low:  0.8529
       Daily Fibonacci 38.2%:  0.8604
       Daily Fibonacci 61.8%:  0.8594
       Daily Pivot Point S1:  0.8567
       Daily Pivot Point S2:  0.855
       Daily Pivot Point S3:  0.8524
       Daily Pivot Point R1:  0.8611
       Daily Pivot Point R2:  0.8637
       Daily Pivot Point R3:  0.8654