EURGBP: Move back through 0.8605-0.8585 needed to change the dynamic – Lloyds Bank

In view of the analysts at Lloyds Bank, resistance above for EURGBP cross is in the 0.8860-0.9000 region while the pivot support remains at 0.8605-0.8585 and a move back through there is needed to really change the dynamic for the pair.

Key Quotes

“Longer term, it is unclear if the declines from last October’s highs are corrective, or part of a more complex topping process. A break of 0.8300-0.8250 key support would suggest a meaningful top developed, with 0.80-0.78 next support. But, while over, we cannot rule out an eventual re-test of the ‘flash crash’ highs and potentially the 2009 highs at 0.9802.”