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Eases Back Toward Monday Low of Gbp0.8640

EURGBP
MNI (London)
  • Back inside its key technical 1.0% 10-dma envelope, which is seen reflecting the easing of negative pressure on the GBP.
  • Top of the envelope by time comes in today at Gbp0.8676, with rate currently seen easing back toward Monday's low of Gbp0.8640.
  • Support is seen at Gbp0.8640/35, a break here expected to boost the current corrective pullback with the 10-dma at Gbp0.8590 moving back into view. Interim support noted at Gbp0.8622/12(Apr08 low/38.2% 0.8472-0.8698)
  • Main resistance remains into Gbp0.8700, a break of Gbp0.8705/06 seen needed to reignite recovery efforts.
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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