Free Trial

Approaching Key Support

EURGBP TECHS
  • RES 4: 0.9085 High Jan 6
  • RES 3: 0.9017 50-day EMA
  • RES 2: 0.8996 High Jan 12
  • RES 1: 0.8937 High Jan 13
  • PRICE: 0.8906 @ 16:10 GMT Jan 15
  • SUP 1: 0.8866 Low Jan 15/Key Support
  • SUP 2: 0.8861 Low Nov 11 and a bear trigger
  • SUP 3: 0.8802 2.0% 10-dma envelope
  • SUP 4: 0.8759 Low May 12, 2020

EURGBP maintains a weaker tone. The cross traded lower Thursday extending the latest downleg. This week's breach of support at 0.8932, Dec 31 low is weighing on the pair. Attention is on 0.8867, Nov 23 low. MA studies are also beginning to display a bearish condition reinforcing the current trend direction. On the upside, key short-term resistance has been defined at 0.9085, Jan 6 high. Initial resistance is at 0.8937, Wednesday's high.

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.