EURGBP- With the cross selling-off on Wednesday and following through on Thursday, further decline is expected. Resistance resides at the 0.7700 level where a violation if seen will turn risk towards the 0.7740 level. On further upside, the 0.7780 level comes in as the next upside target followed by the 0.7820 level. Support comes in at 0.7600 level. Further down, support lies at the 0.7550 level where a violation will turn focus to the 0.7500 level. A break will expose the 0.7460 level. Its daily RSI is bearish and pointing lower suggesting further weakness. All in all, EURGBP remains vulnerable to the downside.
Related Posts
How Credit Suisse Group Stacks Up Against Its Peers
EC
The Problem With Small-Cap Value Indexes- Division in the ranks at the G20
Global Stocks Drift Lower As US Futures Rebound From Overnight Scare, Oil At 2 Year Highs
ECRI Weekly Leading Index: “All Signs Point To A Cyclical Slowdown In Inflation”- SINA Beats Q3 Earnings Estimates, Misses On Revenues
Leave A Comment