EURGBP cross putting pressure in the 0.7925-0.7880 support region – Lloyds Bank

Research Team at Lloyds Bank, suggests that the EURGBP cross is putting further pressure on important support in the 0.7925-0.7880 region.

Key Quotes

“A break would support further EUR underperformance and suggest a move back towards the 0.7750-0.7650 lower support zone. Intra-day resistance lies at 0.7995-0.8035. 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.”