Free Trial

Bullish Focus

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: 0.8662 High Jun 29
  • PRICE: 0.8608 @ 16:34 BST Jun 30
  • SUP 1: 0.8579 20-day EMA
  • SUP 2: 0.8523 50-day EMA
  • SUP 3: 0.8486 Low Jun 9
  • SUP 4: 0.8433 Low May 23

The EURGBP trend needle continues to point north, with the dip-buying theme evident in Thursday’s price action. This keeps the cross holding the bulk of its recent gains. MA studies remain in a bull mode condition that clearly highlights an uptrend. The recent breach of resistance at 0.8619, May 12 high, confirmed a resumption of the uptrend. Attention is on 0.8721, the Jun 15 high and the bull trigger. A break would resume the bull trend. Firm support is at the 50-day EMA - it intersects at 0.8523.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.