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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 Following Breach Of Support

EURGBP TECHS
  • RES 4: 0.9093 High Dec 29
  • RES 3: 0.9085 High Jan 6
  • RES 2: 0.8993/96 50-day EMA / High Jan 12
  • RES 1: 0.8925 High Jan 18
  • PRICE: 0.8898 @ 17:41 GMT Jan 22
  • SUP 1: 0.8830 Low Jan 21
  • SUP 2: 0.8808 Low May 13
  • SUP 3: 0.8759 Low May 12, 2020
  • SUP 4: 0.8735 2.0% 10-dma envelope

EURGBP traded lower still Thursday but has recovered off the low. The week's key technical development has been the breach of key support between 0.8867 and 0.8861, the Nov 23 and Nov 11 lows. The break lower reinforces underlying bearish conditions and paves the way for a move towards 0.8800 and 0.8784. On the upside, a key short-term resistance has been defined at 0.8925 where a break is required to ease the bearish pressure.

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