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Oct 22 - 11:55 AM
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EUR/GBP - Oversold EUR/GBP Can Get More Oversold As French Spreads Hit New Highs
By Refinitiv — Oct 22 - 09:47 AM
• Trend indicators like the RSI shows EUR/GBP is deeply oversold
• German-French spreads are at fresh highs, so the cross can still get more oversold
• French risks are not going away, instead, they are growing
• Oversold readings caution against chasing the cross low
• But with EUR sentiment worsening, there is little appetite for a rebound
• Initial support remains at 0.8356, followed by 0.8333
EURGBP vs spread
Justin McQueen is a Reuters market analyst. (The views expressed are his own). ((Email: ))
Source:
London Stock Exchange Group | Thomson Reuters