“Theresa May expected to unveil plans to hold indicative votes,” According to Steven Swinford's tweet, former journalist (The Daily Telegraph’s deputy political editor)
EUR/GBP is little changed near 0.8545 on Mon of Asian trading at the start, its inability to successfully mix 50-day simple moving average (SMA), the couple is probable declining towards mid-month low around 0.8500.
Though, the current month low surrounding 0.8470 and support-line of two-month-old descending trend-channel, at 0.8430 now, can entertain sellers afterward.
During additional advertising pressure beneath 0.8430, 61.8% Fibonacci development (FE) of January 11 to March 21 techniques, at 0.8360, could become bear's favorite.
On the other hand, 0.8640 and 50-day simple moving average (SMA) degree of 0.8680 may limit the quote's near-term benefit ahead of diverting market attention to 0.8715/20 resistance-confluence comprising 38.2% Fibonacci retracement of January - March downturn and upper-line of the said route.
If at all buyers manage to conquer 0.8720, 50% Fibonacci at 0.8790 and 200-day SMA degree of 0.8840 could display on the list.
ECB's Concern On Oil
ECB's member Olli Rehn has warned in a publication interview, Die Welt, which will be published Monday that markets look like too relaxed on Brexit and are underestimating the risk it poses.
Growth in the eurozone has slowed down significantly and we should be worried.