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Maintains A Weaker Tone

  • RES 4: 0.8624/58 High Oct 1 / High Sep 29
  • RES 3: 0.8540 50-day EMA
  • RES 2: 0.8518 High Oct 12 and a firm resistance
  • RES 1: 0.8487 High Oct 15
  • PRICE: 0.8437 @ 06:20 BST Oct 18
  • SUP 1: 0.8424 Low Oct 15
  • SUP 2: 0.8408 1.0% 10-dma envelope
  • SUP 3: 0.8356 Low Feb 26, 2020
  • SUP 4: 0.8339 Low Feb 25, 2020

EURGBP weakness extended further Friday and a bearish theme remains intact. The cross has cleared 0.8450, the Oct 10 low and a key support. This reinforces a bearish theme and paves the way for an extension lower, opening 0.8408, a vol based support. Further out, there is scope too for an extension below 0.8400. Firm resistance has been defined at 0.8518, Oct 12 high.

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