EUR/GBP: Looking for Evidence of a Top and Move Toward 0.75/0.73 - Lloyds

EUR/GBP: Looking for Evidence of a Top and Move Toward 0.75/0.73 - Lloyds

Analysts from Lloyds Bank are expecting a decline toward 0.75 - 0.73 in the EUR/GBP pair after making a top at 0.81-0.82.

Key Quotes:

“Longer-term we have cited 0.81-0.82 as a major resistance region and we are looking for continued evidence that 0.8117 was a top for a move back towards 0.75-0.73. While the breakdown through 0.7750 increased those chances, rebounds must develop in a corrective fashion to confirm.”

“A rally back through 0.7950 would suggest the declines are just another correction for a re-test the 0.8200 region. A break there would risk follow-through to the next resistance levels at 0.8370/80 and possibly 0.8700/20.”