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USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

Bearish Focus

EURGBP TECHS
  • RES 4: 0.9093 High Dec 29
  • RES 3: 0.9085 High Jan 6
  • RES 2: 0.8965/96 50-day EMA / High Jan 12
  • RES 1: 0.8908/25 20-day EMA / High Jan 18 and key resistance
  • PRICE: 0.8836 @ 16:24 GMT Feb 1
  • SUP 1: 0.8805 Low Feb 1
  • SUP 2: 0.8774 1.0% 10-dma envelope
  • SUP 3: 0.8759 Low May 12, 2020
  • SUP 4: 0.8690 2.0% 10-dma envelope

EURGBP's bearish case firmed Monday as the cross printed a new 2021 low. Further weakness is seen likely with the focus on the 0.8800 handle and 0.8759. The latter is the May 12, 2020 low. Moving average studies are also pointing south reinforcing current trend conditions. On the upside, a firm resistance has been defined at 0.8925, the Jan 18 high where a break is required to ease the bearish pressure.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com