Free Trial

Bullish Outlook

EURGBP TECHS
  • RES 4: 0.8553 High Dec 14 2020
  • RES 3: 0.8512 High Mar 31 and a key resistance
  • RES 2: 0.8482 2.0% 10-dma envelope
  • RES 1: 0.8438 Intraday high
  • PRICE: 0.8414 @ 06:30 BST Apr 25
  • SUP 1: 0.8356 50-day EMA
  • SUP 2: 0.8313 Low Apr 22
  • SUP 3: 0.8250 Low Apr 14 and key short-term support
  • SUP 4: 0.8203 Low Mar 7 and the bear trigger

EURGBP traded sharply higher Friday and is holding on to its recent gains. The climb has resulted in a break of resistance at 0.8405, the Apr 11 high, which marked a key short-term resistance. Clearance of this level represents a bullish development and has also resulted in a test of 0.8435, the Apr 4 high. An extension would open 0.8512. Initial support lies at 0.8356, the 50-day EMA.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.