EUR/GBP: Studies favor a rebound in next 1-2 days - Lloyds

According to analysts from Lloyds Bank, intra-day studies suggest that EUR/GBP  should rebound in the next 1 - 2 days.

Key Quotes:

“The market failed to hold the 0.7795/0.7730 support region, with next support at 0.7660/55 key ahead of the 0.7565 lows set in May. Intra-day studies still suggest that a decent rebound should be seen in the next 1-2 days. 0.7825/35 is interim resistance in this regard.”

“Longer-term we have cited 0.8200 as a major resistance region. The move back through 0.7947 is worrying and risks a re-test of this key resistance region, with a break there exposing 0.8370/80 and 0.8700/20 above. A decline back through 0.7525/0.7450 is needed to confirm a decline towards 0.7200/0.7000 range lows from last year.”