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3 Feb 2016
EURGBP trend is still up – Lloyds Bank
FXStreet (Delhi) – Research Team at Lloyds Bank, suggests that EURGBP pair after breaking out of the 0.6900-.7500 range that has developed over the last year or so, the trend is still up.
Key Quotes
“Key support in this regard lies in the 0.7480/40 region. We are biased to still look for a correction back into this support zone before a return to the trend, with a decline through that support and then 0.7400 negating the short-term bull trend and returning the market to the precious range environment. While over key supports a break of 0.7680 and then 0.7755 sees return to the trend with next resistance lying in the 0.80 region, with long-term resistance lying at 0.8260.”
Key Quotes
“Key support in this regard lies in the 0.7480/40 region. We are biased to still look for a correction back into this support zone before a return to the trend, with a decline through that support and then 0.7400 negating the short-term bull trend and returning the market to the precious range environment. While over key supports a break of 0.7680 and then 0.7755 sees return to the trend with next resistance lying in the 0.80 region, with long-term resistance lying at 0.8260.”