EURGBP – Further selling should be posted with .8433 prime target

by Admin

EURGBP – The medium term bias mildly bearish with .8432 the prime target. We looked to sell into gains yesterday and although this proved correct (before our 4pm UK close) follow through selling was mild. There has been little net movement overnight and although signals are still bearish, entry levels are not clear. There is scope for mild buying but this should be capped at .8493. With these facts in mind our call is a Bearish Bias – Looking for sell signals at .8493 or a beak of .8458 (25 pip stop).

Support levels are: .8458, .8433 and .8400

Resistance levels are: .8493-97, .8510 and .8545