Trial now
GBPUSD TECHS

Remains Under Pressure

EURUSD TECHS

Bear Cycle Extension

US TSY OPTIONS

30Y Put

COMMODITIES

Oil Bounces, Eyes Iran Poll and Gulf Weather

US EURODLR FUTURES

Large Red Sep'22 Sale

Sign up now for free access to this content.

Please enter your details below and select your areas of interest.

  • RES 4: 0.8791/8835 High Feb 12 / 2.0% 10-dma envelope
  • RES 3: 0.8731 High Feb 26
  • RES 2: 0.8701/21 High May 7 / High Apr 26 and the bull Trigger
  • RES 1: 0.8660 50-day EMA
  • PRICE: 0.8563 @ 16:21 BST May 12
  • SUP 1: 0.8561 Low May 12
  • SUP 2: 0.8475 2.0% 10-dma envelope
  • SUP 3: 0.8472 Low Apr 5 and the bear trigger
  • SUP 4: 0.8430 Low Feb 27, 2020

EURGBP extended losses Wednesday, taking out key support at 0.8589, Apr 19 low, which sees the cross move out of its recent range and confirm a bearish breakout. This suggests scope for a deeper pullback, potentially towards the key support at 0.8472, Apr 5 low. On the upside, the key resistance and bull trigger is unchanged at 0.8721, Apr 26 high. Initial resistance is at 0.8660.