Free Trial

Trend Condition Remains Bullish

EURGBP TECHS
  • RES 4: 0.8852 50.0% retracement of the Mar ‘20 - Mar ‘22 bear leg
  • RES 3: 0.8762 1.00 proj of the Apr 14 - May 12 - 17 price swing
  • RES 2: 0.8721 High May 26 2021 and Jun 15 / bull trigger
  • RES 1: 0.8641 High Jun 23
  • PRICE: 0.8622 @ 16:29 BST Jun 27
  • SUP 1: 0.8563 20-day EMA
  • SUP 2: 0.8510 50-day EMA
  • SUP 3: 0.8433 Low May 23
  • SUP 4: 0.8393 Low May 17 and a key support

The trend outlook in EURGBP remains bullish. Moving average studies are in a bull mode and this clearly highlights a positive trend condition. The recent breach of resistance at 0.8619, May 12 high, confirmed a resumption of the uptrend and the focus is on a retest of 0.8721, Jun 15 high and the bull trigger. A break would resume the uptrend. Firm support is seen at 0.8510, the 50-day EMA. Dips are considered corrective.

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.