EURGBP is trading higher today, a tad above its lowest level since August 2022, and in an extremely important support area that has repeatedly acted as a floor and put a stop in the bears’ momentum. The market is preparing for the much-awaited ECB meeting that could deliver the first rate from a major central bank later today. The euro has been under severe pressure since mid-April with a slightly odd-shaped double-top structure playing a key role in the current downward trend. In the meantime, the momentum indicators appear mixed. The Average Directional Movement Index (ADX) remains above its 25-threshold, but it is ... (full story)