The cross holds in red for the third straight day and extends below pivotal supports at 0.8760 zone base (also Fibo 76.4% of 0.8656/0.9113 advance, to post new nine-week low (0.8749).

Sterling remains supported by fresh steer in Brexit saga which raised hopes of delay in Brexit and no-deal scenario.

Bearish daily studies were reinforced by formation of 10/200SMA death cross today, with eventual break through 0.8760 zone temporary base, opening way towards 0.8696 (low of 15 Nov when the pair made the biggest one-day advance in one year) and key med-term support at 0.8656 (13 Nov low).

- advertisement -

Broken Fibo 61.8% support (0.8830) now marks solid resistance which should keep the upside protected and guard pivotal barrier at 0.8862 (200SMA).

Res: 0.8782, 0.8830, 0.8862, 0.8884
Sup: 0.8737, 0.8696, 0.8656, 0.8620

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.