EUR/GBP trims gains, still holding with minor gains at 0.7680

The EUR/GBP pair halted 5-day losing streak and moved higher to 0.7700 handle before retracing from highs to currently trade back around 0.7680-85 band.

The latest Brexit polls have shown a lead for ‘Remain’ group. However, the British Pound hasn’t been able to extend its recent sharp up-surge as the overall picture remains uncertain with support evenly split between the two camps.

Meanwhile, the shared currency gains on global risk-on sentiment, but is doing little to assist the pair register any meaningful recovery. 

With an empty economic calendar, the cross is seen struggling for a direction as traders await for the release of the latest Brexit opinion poll results for fresh impetus.

Technical outlook

Danske Bank's Research Team notes, "Reached .7655 low and nearby see the .7645 support to watch. Failure to hold this will see return to the .7573/65, May low, and see possible bear extension. However, stretched intraday tools caution bounce with resistance now at .7753 then the .7800/10 area."