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Bounce Accelerates

EURO-STERLING TECHS
  • RES 4: 0.9176 High Jun 29 and a major resistance
  • RES 3: 0.9148 High Jul 27
  • RES 2: 0.9070 High Aug 17
  • RES 1: 0.9044 High Aug 24 and a key resistance
  • PRICE: 0.9027 @ 10:56 BST Sep 8
  • SUP 1: 0.8967 Intraday low
  • SUP 2: 0.8900 Low Sep 4
  • SUP 3: 0.8864 Low Jun 9 and 61.8% of the Apr 30 - Jun 29 rally
  • SUP 4: 0.8830 Low Jun 15

The recovery in EURGBP off last week's low is extending and the cross has today cleared the 50-day EMA in a convincing manner. These gains set the scene for a stronger climb with attention on the next resistance at 0.9044, Aug 24 high and a more significant hurdle at 0.9070, Aug 17 high. A break of the latter would open 0.9148 further out, Jul 27 high. On the downside, initial support lies at 0.8967, today's intraday low.

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