An update to our EURGBP channel
=> The cross remains under pressure via sterling receiving a bid from positive Brexit headlines
=> We have broken down from our previous channel and are now finding support at the 0.8896 levels.
=> Whilst we still see this moving higher into 2019 we need to hold the attempt from bears here. A clean break will see a decline towards 0.8861 which also marks the 50% retracement level from the rally since April.
=> A very difficult environment to navigate so stay out unless you know exactly what you are doing.
=> To the upside, resistance remains at 0.8820 and 0.8960. A break above will unlock the 0.90xx and beyond after we took the highs last week.
=> We have broken down from our previous channel and are now finding support at the 0.8896 levels.
=> Whilst we still see this moving higher into 2019 we need to hold the attempt from bears here. A clean break will see a decline towards 0.8861 which also marks the 50% retracement level from the rally since April.
=> A very difficult environment to navigate so stay out unless you know exactly what you are doing.
=> To the upside, resistance remains at 0.8820 and 0.8960. A break above will unlock the 0.90xx and beyond after we took the highs last week.
Penafian
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