In my last post on this pair I commented that there is plenty room to sell. This is still the situation, but the pair has been limited to a 270p range between 0.8745 support and 0.9015 resistance since late September. Note that the 0.8745 area has played a role on this pair going back to 2010. I’m not keen to trade the range as it looks to choppy for my liking. I’m going to wait patiently for a breakout of this range. A daily close and re-test of 0.9015 resistance area would open up towards 0.8470 resistance area and a close below 0.8745 support area would open towards the 0.8470 support area. I’m going to wait for the market to show its’ hand on this pair for direction.

EURGBP - RANGING

Source: MARYNA

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