EUR/GBP: another run at 0.90 highs not to be ruled out - Westpac

Ross J Burland FXStreet

Analysts at Westpac explained that sterling remains mired in a two-month trading range between roughly $1.30 and $1.3320.

Key Quotes:

"It recorded a two-week high near $1.3260 before the weekend. The technical indicators appear constructive, but we suspect it is not going anywhere quickly. Brexit talks remain at an impasse as both sides want the other to compromise. The weekly technical indicators continue to favor an eventual downside break. The euro was repulsed again near GBP0.9000. Initial support near GBP0.8930 was frayed but provided it holds, another run at the highs cannot be ruled out."

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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