Trial now
AUD

Aussie is on the front foot

EQUITIES

Better buying on the cash open lacks momentum

CROSS ASSET

Equities spill over into Bond and FX

Still Appears Vulnerable

EURO-STERLING TECHS
  • RES 4: 0.9220 High Sep 22 and a key near-term resistance
  • RES 3: 0.9190 61.8% retracement of the Sep 11 - 28 sell-off
  • RES 2: 0.9162 High Oct 7 and the bull trigger
  • RES 1: 0.9132 High Oct 10
  • PRICE: 0.9067 @ 10:35 BST Oct 12
  • SUP 1: 0.9044 Low Sep 29 / Oct 2
  • SUP 2: 0.9025 Low Sep 28 and the bear trigger
  • SUP 3: 0.9000 Round number support
  • SUP 4: 0.8967 76.4% retracement of the Sep 3 - 11 rally

EURGBP failed last week to hold above trendline resistance drawn off the Sep 11 high. This suggests the cross is vulnerable to further weakness. A continued move lower would open 0.9044, Oct 2 low. Key support lies at 0.9025, Sep 28 low where a break would confirm a resumption of bearish trending conditions. On the upside, firm resistance has been defined at 0.9062, Oct 7 high. Initial resistance is at 0.9132, Friday's high.