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TECHS: Firmer Once Again

STERLING

Sterling is on the move.

  • EURGBP is approaching yesterday's low of 0.9020. A break of this support would confirm a resumption of the recent downleg and if weakness extends, would open 0.9000 and potentially 0.8967, 76.4% of the Sep 3 - rally.
  • Cable is firmer too but still below Tuesday's high of 1.3083. A break of this level is needed to resume the recent uptrend and would open 1.3000 and 1.3151. The latter is the former trendline support drawn off the Mar 20 low. The trendline was breached on Sep 9.

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