21 DMA at 0.7079 continues to exert bearish pressure on EUR/GBP
EUR/GBP topside capped by 21 DMA at 0.7079, further bullishness can be seen only on breaks above
Breaks above could target 0.7100 (23.6 % Fibo of Oct 13 to Nov 17 fall) and then 0.7126 (Daily High Nov 10)
Mooted offers at 0.71 are an appreciation obstacle beyond 21DMA, 0.7100 option expiry today, E309mn strike. 0.7098 = Nov 13 Ldn am high
On the downside support is seen at 0.6982 (Daily Low Nov 18), breaks below could see the pair at 0.6970 (Daily Low Aug 6)
Resistance Levels:
R1: 0.7079 (21 DMA)
R2: 0.7108 (Daily High Nov 12)
R3: 0.7126 (Daily High Nov 10)
Support Levels:
S1: 0.7037 (10 DMA)
S2: 0.7018 (Daily Low Nov 24)
S3: 0.6982 (Daily Low Nov 18)
Breaks above could target 0.7100 (23.6 % Fibo of Oct 13 to Nov 17 fall) and then 0.7126 (Daily High Nov 10)
Mooted offers at 0.71 are an appreciation obstacle beyond 21DMA, 0.7100 option expiry today, E309mn strike. 0.7098 = Nov 13 Ldn am high
On the downside support is seen at 0.6982 (Daily Low Nov 18), breaks below could see the pair at 0.6970 (Daily Low Aug 6)
Resistance Levels:
R1: 0.7079 (21 DMA)
R2: 0.7108 (Daily High Nov 12)
R3: 0.7126 (Daily High Nov 10)
Support Levels:
S1: 0.7037 (10 DMA)
S2: 0.7018 (Daily Low Nov 24)
S3: 0.6982 (Daily Low Nov 18)
