GBP fell to record lows against the Euro as increased inflation pressures in the Euro weakened the sterling’s strength. The Sterling paired back its losses to the U.S as the U.S sell off pushed the pound temporarily above 1.98.
TECHNICAL FOR THE DAY
Pound is expected to trade in the range of 1.9670-1.9830.With good support seen at 1.9660 and key resistance is seen at 1.9840.Breach above the resistance will test 1.9850.Currency is expected to be have a upward correction for the day as it is trading well above the moving averages. Stochastic and Relative Market strength index are hinting towards the possibility of uptrend in the counter.
Pound is expected to trade in the range of 1.9670-1.9830.With good support seen at 1.9660 and key resistance is seen at 1.9840.Breach above the resistance will test 1.9850.Currency is expected to be have a upward correction for the day as it is trading well above the moving averages. Stochastic and Relative Market strength index are hinting towards the possibility of uptrend in the counter.
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