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EURO-STERLING TECHS
  • RES 4: 0.9183 61.8% retracement of the Sep 11 - Oct 14 sell-off
  • RES 3: 0.9169 1.0% 10-dma envelope
  • RES 2: 0.9162 High Oct 7
  • RES 1: 0.9149 Oct 20 high
  • PRICE: 0.9078 @ 10:37 BST Oct 21
  • SUP 1: 0.9071 50-day EMA
  • SUP 2: 0.9007 Low Oct 14
  • SUP 3: 0.9000 Round number support
  • SUP 4: 0.8967 76.4% retracement of the Sep 3 - 11 rally

EURGBP technical conditions at the start of today's session looked promising for bulls. With volatile price action continuing to dominate and Sterling firming today, the cross has reversed a large portion of its most recent gains. Resistance has been defined at 0.9149, Oct 20 high with key support at 0.9007, Oct 14 low. Bulls will be looking for price to remain above 0.9007. A break though would signal the resumption of bearish pressure.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com