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Bull Trend Remains Intact

EURGBP TECHS
  • RES 4: 0.9501 High Mar 19 2020 and major resistance
  • RES 3: 0.9388 High Mar 23 2020
  • RES 2: 0.9292 High Sep 11 2020
  • RES 1: 0.9060/9266 50.0% of Monday’s range / High Sep 26
  • PRICE: 0.8923 @ 16:18 BST Sep 27
  • SUP 1: 0.8853 Low Sep 26
  • SUP 2: 0.8788 High Sep 19
  • SUP 3: 0.8692 Low Sep 22 and a key short-term support
  • SUP 4: 0.8610 50-day EMA

EURGBP rallied sharply higher Monday before reversing lower and retracing the rally - the cross is currently trading closer to Monday’s low. The break higher reinforces bullish conditions and maintains the positive price sequence of higher highs and lows. This has exposed the top of a broad multi-year range at the 0.9300 handle and a key resistance area. Short-term weakness would be considered corrective - for now. 0.8692 is a key short-term support.

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  • RES 4: 0.9501 High Mar 19 2020 and major resistance
  • RES 3: 0.9388 High Mar 23 2020
  • RES 2: 0.9292 High Sep 11 2020
  • RES 1: 0.9060/9266 50.0% of Monday’s range / High Sep 26
  • PRICE: 0.8923 @ 16:18 BST Sep 27
  • SUP 1: 0.8853 Low Sep 26
  • SUP 2: 0.8788 High Sep 19
  • SUP 3: 0.8692 Low Sep 22 and a key short-term support
  • SUP 4: 0.8610 50-day EMA

EURGBP rallied sharply higher Monday before reversing lower and retracing the rally - the cross is currently trading closer to Monday’s low. The break higher reinforces bullish conditions and maintains the positive price sequence of higher highs and lows. This has exposed the top of a broad multi-year range at the 0.9300 handle and a key resistance area. Short-term weakness would be considered corrective - for now. 0.8692 is a key short-term support.