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GBP/PLN Hesitant Around 5.40 Handle

POLAND
  • GBP/PLN struggles to break through the 5.40 resistance (May 2016 high), with today looking like a second consecutive close below the level.
  • RSI showing the pair is slightly overbought, with some slight bearish divergence showing a slight moderation in upside momentum.
  • However, fundamentals are definitely bearish on the PLN front with a dovish NBP, escalating domestic Covid caseload and uncertainty regarding CHF loan risks
  • Next resistance on the topside stands at 5.52 (61.8% Fibo of 4.58 - 6.10 range), while major support is seen at 5.20, should price action fail to establish a breakout beyond 5.40 in the near-term.

  • GBP/PLN


MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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