EUR/GBP – Daily close below 0.8880 would be bearish
Resistance
0.8932
0.8967
0.9049
Support
0.8880
0.8755
0.8725
Comments – The breach of the rising trend line needs to be followed up with a bearish close below 0.8880 (double top neckline). Such a move would open doors for a deeper retracement to 0.8755-0.8725 area. On the higher side, a rebound from 0.8880 followed by a break above 0.9049 (Nov 2 high) would open doors for 0.9150-0.92 levels.
0.8932
0.8967
0.9049
Support
0.8880
0.8755
0.8725
Comments – The breach of the rising trend line needs to be followed up with a bearish close below 0.8880 (double top neckline). Such a move would open doors for a deeper retracement to 0.8755-0.8725 area. On the higher side, a rebound from 0.8880 followed by a break above 0.9049 (Nov 2 high) would open doors for 0.9150-0.92 levels.
