Where to for GBP to EUR?
- Created on Thursday, 31 March 2011 11:12
- Last Updated on Friday, 27 September 2013 14:55
- Hits: 2111
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.