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.
“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.”