The sterling pound (GBP) is a bit stronger in the session, but, again, the trends largely reflect the broadest tone of the USD instead of any specific development of the GBP, says Shaun Osborne, head of Strategy of Scotiabank FX strategy.
EUR/GBP rebound approaches the highest trend resistance
“The strong losses of the GBP compared to the Eur this week can obscure the long -term improvement of the GBP at the crossing – at least for now – and solidify the EUR/GBP support around the 0.82 point.”
“Cable profits are testing the back resistance (Fibonacci resistance of 61.8% of the fall of 1.34/1.21 observed between September and January) in 1,2924. A clear thrust through the low 1.29 points to additional gains of setback to 1.31. The support is 1,2865. Keep in mind that the rebound of the EUR/GBP is approaching the resistance of greater tendency In 0.8425. “
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
