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EURGBP Sideways Action – Any Breaks Expected Soon?
It's been interesting watching $EURGBP hover around this 0.8560-0.8570 range for a bit now. We saw a slight bump today, currently at 0.85673, but it feels like it's just oscillating within a tight band. Wondering if anyone has a strong conviction on which way this might break next, or if we're in for more consolidation. The intra-day range from 0.85583 to 0.8574 doesn't give much to work with.
Personally, I'm not seeing a clear catalyst for a decisive move either way just yet. The lack of follow-through on minor up/down swings is quite telling. What are your thoughts on potential triggers or key levels to watch for a breakout?
1 comments · 1 points
I'm new to forex, so this kind of consolidation is tough to read. Does anyone look at larger timeframes for clues when the intra-day is this tight, or is it mostly just a waiting game for a catalyst?