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Approaching The Top Of A Multi-Year Range

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: 0.9266 Intraday high
  • PRICE: 0.9130 @ 05:45 BST Sep 26
  • SUP 1: 0.0.8926 Intraday low
  • SUP 2: 0.8788 High Sep 19
  • SUP 3: 0.8692 Low Sep 22
  • SUP 4: 0.8595 50-day EMA

EURGBP has rallied sharply higher today as Sterling weakens across the board. This confirms once again a resumption of the broader uptrend. The break reinforces bullish conditions and maintains the positive price sequence of higher highs and lows. Note that the cross is appreciating inside a broad multi-year range - the top is at the 0.9300 handle. The Mar 2020 high of 0.9501 resulted in a brief spike beyond the upper band of this range.

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