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Bull Cycle Still In Play

EURGBP TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 0.8992 61.8% retracement of the Sep 26 - Dec 1bear leg
  • RES 3: 0.8979 High Feb 3 and the bull trigger
  • RES 2: 0.8929 High Feb 17
  • RES 1: 0.8925 High Mar 07
  • PRICE: 0.8907 @ 06:58 GMT Mar 8
  • SUP 1: 0.8851/24 20- and 50-day EMA values
  • SUP 2: 0.8755 Low Feb 28 and key support and 100-dma
  • SUP 3: 0.8722 Low Jan 19 and a key support
  • SUP 4: 0.8712 61.8% retracement of the Dec 1 - Feb 3 bull leg

EURGBP short-term conditions remain bullish. The cross has topped resistance at a trendline drawn from the early February highs - the line intersects at 0.8864. A continuation higher would expose 0.8929, the Feb 17 high. Note that moving average studies are in a bull mode position, reinforcing current conditions. On the downside, a break of 0.8755, the Feb 28 low is required to reinstate the recent downleg.

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  • RES 4: 0.8992 61.8% retracement of the Sep 26 - Dec 1bear leg
  • RES 3: 0.8979 High Feb 3 and the bull trigger
  • RES 2: 0.8929 High Feb 17
  • RES 1: 0.8925 High Mar 07
  • PRICE: 0.8907 @ 06:58 GMT Mar 8
  • SUP 1: 0.8851/24 20- and 50-day EMA values
  • SUP 2: 0.8755 Low Feb 28 and key support and 100-dma
  • SUP 3: 0.8722 Low Jan 19 and a key support
  • SUP 4: 0.8712 61.8% retracement of the Dec 1 - Feb 3 bull leg

EURGBP short-term conditions remain bullish. The cross has topped resistance at a trendline drawn from the early February highs - the line intersects at 0.8864. A continuation higher would expose 0.8929, the Feb 17 high. Note that moving average studies are in a bull mode position, reinforcing current conditions. On the downside, a break of 0.8755, the Feb 28 low is required to reinstate the recent downleg.