Free Trial

Breaches Resistance

EURGBP TECHS
  • RES 4: 0.8603 High Jul 6
  • RES 3: 0.8631 76.4% retracement of the Jun 15 - Aug 2 downleg
  • RES 2: 0.8585 High Jul 21 and a key resistance
  • RES 1: 0.8570 High Jul 22
  • PRICE: 0.8541 @ 14:28 BST Aug 29
  • SUP 1: 0.8448/8408 20-day EMA / Low Aug 23
  • SUP 2: 0.8388/40 Low Aug 17 / 2 and the bear trigger
  • SUP 3: 0.8313 Low Apr 22
  • SUP 4: 0.8277 2.0% 10-dma envelope and low Apr 14
EURGBP has started the week on a firmer note and is again above the 50-day EMA. The recent high print of 0.8512 (Aug 19), was seen as a bullish development. This level has been cleared today and the break strengthens bullish conditions, resuming the uptrend that started early August. This has opened 0.8585, Jul 21 high. Initial key support to watch is at 0.8408, the Aug 24 low.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.