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Eases Back Inside its 1.0% 10-dma Envelope

EURGBP
MNI (London)
  • Breaks back into its technically key 1.0% 10-dma envelope (current topside Gbp0.8664) which should provide, or at least reflect, an easing of pressure on the GBP.
  • Support seen at Friday's low of Gbp0.8647, with the 50-dma coming in close behind at Gbp0.8637. Break here to expose Gbp0.8622(Apr08 low)
  • Resistance remains at Gbp0.8700, technical resistance noted at Gbp0.8705/06(Mar01 high/38.2% 0.9085-0.8472(2021 range).
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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