“¢ Reemerging Brexit worries weigh on GBP and helps regain positive traction for the second straight session and recover a part of the post-ECB slump.
“¢ Bulls retesting 50-day SMA immediate barrier, above which the recovery could get extended back towards 100-day SMA resistance near the 0.8785-90 region.
Technical indicators hold in neutral territory and haven’t been able to suggest any firm directional bias.
Spot Rate: 0.8755
Daily Low: 0.8726
Trend: Sideways
Resistance
R1: 0.8758 (50-day SMA)
R2: 0.8779 (R2 daily pivot-point)
R3: 0.8800 (round figure mark)
Support
S1: 0.8738 (previous weekly closing level)
S2: 0.8718 (Friday’s swing low)
S3: 0.8698 (S2 daily pivot-point)
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