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- GBP appears attractive against the low-yielding European currencies and is likely to continue its outperformance in the near term
- The common currency is finding some support in the European session and EUR/GBP is off Friday's 8 year low by 0.6935
- The pair is currently trading at 0.69527, with a high of 0.69357 and a low of 0.69357
- EUR/GBP correction is likely to be small, next support lies at 0.6935 (8 Year Low Jul 17), resistance is located at 0.6989 (Daily High July 17)
Resistance Levels:
R3: 0.7068 (Daily High Jul 15)
R2: 0.7008 (Daily High Jul 16)
R1: 0.6989 (Daily High July 17)
Support Levels:
S1: 0.6935 (8 Year Low Jul 17)
S2: 0.6920 (Monthly Low Nov 2007)
S3: 0.6894 (Monthly Low Oct 2007)
