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Breaches Support

EURGBP TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 0.8719 High May 23 and a congestion high
  • RES 3: 0.8701 High Jul 19
  • RES 2: 0.8665/8669 100-dma / High Aug 11
  • RES 1: 0.8613 50-day EMA
  • PRICE: 0.8553 @ 17:00 BST Aug 16
  • SUP 1: 0.8550/44 Low Aug 16 / Low Jul 27
  • SUP 2: 0.8529 1.0% 10-dma envelope
  • SUP 3: 0.8504 Low Jul 11 and key support
  • SUP 4: 0.8471 Low Aug 29 2022

EURGBP has failed to hold on to its recent highs and traded lower again Wednesday to extend the reversal from 0.8669, the Aug 11 high. The break lower suggests scope for weakness towards support at 0.8544, the Jul 27 low. Clearance of this level would expose 0.8504, the Jul 11 low and a bear trigger. Note that moving average studies continue to highlight a dominant downtrend. The key short-term hurdle for bulls is 0.8669.

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  • RES 4: 0.8719 High May 23 and a congestion high
  • RES 3: 0.8701 High Jul 19
  • RES 2: 0.8665/8669 100-dma / High Aug 11
  • RES 1: 0.8613 50-day EMA
  • PRICE: 0.8553 @ 17:00 BST Aug 16
  • SUP 1: 0.8550/44 Low Aug 16 / Low Jul 27
  • SUP 2: 0.8529 1.0% 10-dma envelope
  • SUP 3: 0.8504 Low Jul 11 and key support
  • SUP 4: 0.8471 Low Aug 29 2022

EURGBP has failed to hold on to its recent highs and traded lower again Wednesday to extend the reversal from 0.8669, the Aug 11 high. The break lower suggests scope for weakness towards support at 0.8544, the Jul 27 low. Clearance of this level would expose 0.8504, the Jul 11 low and a bear trigger. Note that moving average studies continue to highlight a dominant downtrend. The key short-term hurdle for bulls is 0.8669.