EUR/GBP: Focus remain on 0.7920/40 - Lloyds

Analysts from Lloyds Bank continue to point out that their attention the EUR/GBP  pair continues to be on the 0.7920/40 region, suggesting that a break higher would expose 0.8200.

Key Quotes:

“Aligned with the GBP moves overnight, the cross dropped into intra-day trend support at 0.7755 before reversing.”

“Our focus remains on the 0.7920/40 region. A move up through this resistance area would suggest the declines from 0.8117 to 0.7610 have merely been another correction phase and risks a re-test of the 0.8200 region.”

“Longer-term we have cited this as a major resistance region. A subsequent break here would expose 0.8370/80 and 0.8700/20 above there. A decline back through 0.7525/0.7450 would add renewed conviction that 0.8117 was a top for a move towards 0.7200/0.7100.”