EURGBP Technical analysis 07.09.17

EURGBP

The pair is moving within the narrow range in anticipation of the outcome of the ECB monetary policy meeting, which will determine the future of stimulating measures. If the bank doesn't rule to cease the stimulation or to reduce its volume and Mario Draghi doesn't convince the market of certainty of the coming changes, the Euro rate is likely to decrease.

The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is below 50% level and is reversing upwards. Stoch are growing.

Trading recommendations:

If the price falls below 0.9125 level, it's likely to go further down to 0.9050 against the backdrop of the ECB monetary policy decision.