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Peso Loses Some Altitude

KRW

Coronavirus Cases Drop To Two-Month Low

Key Short-Term Support Holds

EURGBP TECHS
  • RES 4: 0.9265 High Sep 14
  • RES 3: 0.9230/45 High Dec 11 / 2.0% 10-dma envelope
  • RES 2: 0.9149 High Dec 15
  • RES 1: 0.9056 High Dec1 6
  • PRICE: 0.9052 @ 05:36 GMT Dec 18
  • SUP 1: 0.8983 Low Dec 4 / 17 and key support
  • SUP 2: 0.8973/52 1.0% 10-dma env / 76.4% of Nov 23 - Dec 11 rally
  • SUP 3: 0.8915 Low Nov 27
  • SUP 4: 0.8867/63 Low Nov 23 / Low Nov 11 and key support

EURGBP remains volatile and the cross maintains this week's weaker tone having pulled back from 0.9230, Dec 11 high. From a technical viewpoint, chart conditions remain bullish. This follows a recent break of the trendline resistance drawn off the Sep 11 high and last week's acceleration higher. A reversal higher would reopen last week's peak of 0.9230. On the downside, the key support to watch is 0.8983, Dec 4 low. A break would be bearish.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com