FX March 19, 2021 / 08:46 am UTC

Chart EUR/GBP Update: Balanced around critical support at 0.8539

By Mike Macdonald




Level
Comment

Level
Comment
R40.8668
3 Mar high
S10.8539**24 Feb (m) low
R30.8650*congestion
S20.8500**congestion
R20.8600
congestion
S30.8450*congestion
R10.8580
congestion
S40.8400**congestion

Asterisk denotes strength of level


08:40 GMT - Still little change, as mixed intraday studies keep near-term sentiment cautious and extend pressure on critical support at the 0.8539 monthly low of 24 February. Daily readings are mixed/negative, however, highlighting potential for a later break and extension of multi-month losses towards congestion around 0.8500. Beneath here is 0.8450. Meanwhile, resistance remains at 0.8600 and should provide a barrier into any immediate bounce.

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