Free Trial

Approaching The 20-Day EMA

EURGBP TECHS
  • RES 4: 0.9501 High Mar 19 2020 and major resistance
  • RES 3: 0.9388 High Mar 23 2020
  • RES 2: 0.9292 High Sep 11 2020
  • RES 1: 0.9066/9266 High Sep 28 / High Sep 26 and key resistance
  • PRICE: 0.8815 @ 06:20 BST Sep 30
  • SUP 1: 0.8764 20-day EMA
  • SUP 2: 0.8692 Low Sep 22
  • SUP 3: 0.8643 50-day EMA
  • SUP 4: 0.8626 Low Sep 14

EURGBP remains well below Monday’s high of 0.9266 - a key short-term resistance. The cross has entered a corrective cycle and this is allowing a recent overbought trend reading to unwind. The next support is 0.8764, the 20-day EMA. A break would signal scope for an extension, perhaps towards the 50-day EMA, at 0.8643. Initial resistance is seen at 0.9066, the Sep 28 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.