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Volatile Inside the Range

  • RES 4: 0.9292 High Sep 11 and the bull trigger
  • RES 3: 0.9220 High Sep 22 and a key near-term resistance
  • RES 2: 0.9181 High Sep 24
  • RES 1: 0.9157/63 High Sep 30 / Trendline drawn off the Sep 11 high
  • PRICE: 0.9111 @ 16:32 BST Oct 1
  • SUP 1: 0.9062 Low Sep 29
  • 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 is highly volatile inside the range Thursday, with Brexit headlines providing considerable downside and upside risk. This week's price action has defined a key support at 0.9025, Sep 28 low. A potential reversal pattern marks Monday's activity, a doji candle. A bullish condition would be confirmed if the cross is able to hold above 0.9025 and overcome resistance at 0.9157 and a trendline at 0.9163. On the downside, a break of 0.9025 reinstates the bearish threat.

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