A couple of chart items from client notes, with a bit of a market on EUR/GBP!
First, this via SG:
EUR/GBP is at a crucial level
- EUR/GBP has defended the interim support of 0.87 / 0.8680, the 61.8% retracement from April and also the weekly Moving Average.
- A choppy consolidation is under way within limits of 0.90 / 0.9070 and 0.87 / 0.8680. Only a break of 0.87/0.8680 will mean deeper correction. 0.90/0.9070 will be a medium term resistance.
And, a differing view from CommerzBank (but do note they are assessing a very different time fram chart)
One to go on the radar - EUR/GBP, is sitting on the bottom of its 6 month range.
- We have a confirmed sell signal on the daily and weekly DMI and downside risks are building.
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EUR/GBP is currently around 0.87145
