EUR/GBP Technical Analysis: Sidelined in a narrow range for fourth straight day

EUR/GBP is struggling for direction for the fourth straight day with the hourly chart reporting a 13-pip trading range of 0.8645-0.8658. 

Hourly chart

As seen above, the pair dived out of the rising wedge pattern last week - a bearish development. Therefore, the 13-pip range is more likely to be breached to the downside in favor of 0.96 (psychological support). 

The bearish view, however, would be invalidated if the 200-hour moving average (MA), currently at 0.8639 puts a floor under the pair. 

Trend: Neutral-to-bearish

Pivot points