Free Trial

Bull Cycle Remains In Play

EURGBP TECHS
  • RES 4: 0.8701 High Jul 19 and a key resistance
  • RES 3: 0.8683 Trendline resistance drawn from the Feb 3 high
  • RES 2: 0.8669 High Aug 11
  • RES 1: 0.8637 High Sep 19
  • PRICE: 0.8621 @ 06:12 BST Sep 20
  • SUP 1: 0.8569 Low Sep 15 and a key near-term support
  • SUP 2: 0.8524 Low Sep 06
  • SUP 3: 0.8511 1.0% 10-dma envelope
  • SUP 4: 0.8493 Low Aug 23 and the bear trigger

A short-term bull cycle in EURGBP remains in play and the cross is trading closer to its recent highs. Price has recently breached resistance at 0.8611, the Aug 30 high, and the continuation higher signals scope for a climb towards 0.8683, trendline resistance drawn from the Feb 3 high and a key resistance. On the downside, initial firm support lies at 0.8569, the Sep 15 low. A break of this level would signal a potential top.

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.