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Accelerates Move Higher

EURGBP TECHS
  • RES 4: 0.8647 2.0% 10-dma envelope
  • RES 3: 0.8631 76.4% retracement of the Jun 15 - Aug 2 downleg
  • RES 2: 0.8624 High Jul 5
  • RES 1: 0.8602 High Aug 30
  • PRICE: 0.8601 @ 17:04 BST Aug 30
  • SUP 1: 0.8457/8408 20-day EMA / Low Aug 23
  • SUP 2: 0.8388/40 Low Aug 17 / 2 and the bear trigger
  • SUP 3: 0.8313 Low Apr 22
  • SUP 4: 0.8289 2.0% 10-dma envelope and low Apr 14

EURGBP accelerated gains Tuesday, showing above the 0.8600 handle to put prices at the best levels since early July. This further opens the gap with the 50-day EMA and strengthens bullish conditions. This resumes the uptrend that started early August and opens 0.8624, Jul 5 high. Initial key support to watch is at 0.8408, the Aug 24 low.

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