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USDMXN Remains Above March 2021 Highs

LIBOR

JAPAN FIX - 29/11/21

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  • RES 4: 0.8624/58 High Oct 1 / High Sep 29
  • RES 3: 0.8529 50-day EMA
  • RES 2: 0.8518 High Oct 12 and a firm resistance
  • RES 1: 0.8487 High Oct 15
  • PRICE: 0.8434 @ 06:24 BST Oct 21
  • SUP 1: 0.8423 Low Oct 19 / 20
  • SUP 2: 0.8384 1.0% 10-dma envelope
  • SUP 3: 0.8356 Low Feb 26, 2020
  • SUP 4: 0.8339 Low Feb 25, 2020

EURGBP is consolidating near recent lows. The outlook remains bearish following the recent break of 0.8450, Oct 10 low and a key support. This paves the way for an extension lower, opening 0.8384 next, a vol based support. Further out, there is scope too for an extension below 0.8400 to open 0.8356, the Feb 26, 2020 low. Moving average conditions remain bearish, reinforcing current trend conditions. Initial firm resistance is 0.8518.