Where to for GBP to EUR?
Thursday, 31 March 2011 11:12
A technical look at the GBP EUR rate.
GBP to EUR is currently 0.334% lower on the day with 1 GBP = 1.1342 EUR.
Analysts at RBS say the see a very strong resistance at 0.8820/50, this resistance level is still believed to be of significant relevance today.
William Moore, technical strategies at RBS says:
"My conviction does start to frustratingly wane as I would have anticipated the GBP to have rallied a little harder by now.
"Moreover price action is struggling to break 0.8780 and 0.8760 to the downside which makes me equally nervous.
"I’m taking my view off the table for now and will re assess post the month end flows."
The strategy for GBP to EUR is therefore neutral intraday but be aware of the strong resistance between 0.8820/50.
The best GBP to EUR exchange rate on offer
GBP to EUR: Latest News
- GBP to EUR finally decides to wake up as risk-rebound goes into overdrive in afternoon session
- GBP to EUR: Uneventful market conditions continue! Currency pair virtually unchanged from yesterday
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- GBP to EUR in strong advances as a dovish ECB session looms, latest PMI data does not help either
- The GBP to EUR is a bright spot on a day when markets are showing a renewed sense of fear on the Eurozone outlook
- GBP to EUR technicals: 0.8500 level held firm and the EUR failed at its first major hurdle
- Technical outlook for the GBP to EUR exchange rate: Go short on the breaking of 0.8315 for EURGBP say RBS
"These levels, and slightly higher ones in EUR/GBP, should make excellent GBP buying opportunities." Read More....
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