The pound whipsawed after Truss announced her resignation as Britain’s prime minister. The euro has found support at the base (0.8580) of a bullish breakout in early September. The support-turned-resistance at 0.8760 is the first obstacle and its breach would lift offers to 0.8850, a major resistance before a full-blown recovery could materialise. The RSI’s overbought condition has limited the buying pressure, and 0.8650 is a fresh zone for accumulation. Further down, a fall below 0.8580 would invalidate the month-long rally.
