EUR/GBP: Weak daily volatility is a major obstacle to a lasting rebound - Natixis

According to Micaella Feldstein, Research Analyst at Natixis, the weak daily volatility of EUR/GBP cross is a major obstacle to a lasting rebound of the pair over the  coming sessions, all the more so since the daily stochastic has pulled back and the weekly stochastic is struggling to recover.

Key Quotes

“Under these conditions, a clean breakout above the resistance levels around 0.8988-0.90 (upper band of daily Bollinger) seems difficult. Watch out rather for pullbacks towards 0.8864 (daily Bollinger moving average), the last support before 0.8777-0.8794 and even 0.8740-0.8760 (lower band of daily Bollinger).”