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Bouncing Well

EURGBP TECHS
  • RES 4: 0.8840 High Feb 4
  • RES 3: 0.8797 High Feb 9
  • RES 2: 0.8739 Low Feb 5
  • RES 1: 0.8731 High Feb 26
  • PRICE: 0.8674 @ 16:54 GMT Feb 26
  • SUP 1: 0.8541 Low Feb 24
  • SUP 2: 0.8517 3.0% Lower Bollinger Band
  • SUP 3: 0.8508 2.0% 10-dma Envelope
  • SUP 4: 0.8469 38.2% 2015 - 2016 Rally

Following Wednesday's notable down-move in EURGBP, the pair bounced smartly into the Friday close, putting a close back above the 0.87 mark on the cards. Bears need to reinforce the move through 0.86 support to cement any further weakness, which would initially expose 0.8517 vol band support. Initial resistance sits at 0.8739, Feb 5 low.

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

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