EUR/GBP: Important Support in the 0.7925 - 0.7880 Region - Lloyds
EUR/GBP: Important Support in the 0.7925 - 0.7880 Region - Lloyds
Analysts from Lloyds Bank, a break below 0.7925 - 0.7880 would support further EUR underperformance.
Key Quotes:
“The
cross has pulled back and is holding important support in the
0.7925-0.7880 region. A break of this region would support further EUR
underperformance, for a move back towards 0.7750-0.7650 support below.
Intra-day resistance lies at 0.8005-0.8035. If we hold over support and
rally back through there it would suggest the core trend is still in
place.”
“Medium term, the trend from the 0.6935 lows set in
July 2015 remains intact. A decline through daily trend support at
0.7925-0.7880 would add increasing weight to confirming a significant
top is developing. Only a clear breach of the 0.82 region would suggest
that isn’t the case with little meaningful resistance above till 0.84
and then 0.87.”
