CANADA PM CARNEY CANCELS PROPOSED CAPITAL GAINS TAX INCREASE

MNI BRIEF: FAIT Didn't Affect Fed's Covid Decisions - Williams

MNI: Fed Waller Prefers Faster QT Path, Wants Contingency Plan

MNI BRIEF: PBOC To Enhance Easing On External Uncertainties

MNI China Daily Summary: Friday, March 21

MNI China Press Digest March 21: Land Sales, Services, PBOC

EZ/UK T-Bill Calendar: Germany, France Auction On Monday

EZ/UK Bond Supply Calendar: EU-Bond Auction on Monday

MNI: BAKER HUGHES US RIG COUNT 593; OIL RIGS 486; GAS RIGS 102

GERMANY: Handelsblatt Report on Lingering Uncertainties Ahead of Bundestag

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EURGBP TECHS: Bullish Engulfing Candle

EURGBP TECHS
Foreign Exchange Technical AnalysisCEEMEABulletUKMarketsForeign Exchange Bullets
  • RES 4: 0.8530 76.4% retracement of the Aug 8 - Dec 19 ‘24 bear leg         
  • RES 3: 0.8494 High Aug 26 ‘24 
  • RES 2: 0.8474 High Jan 20 and a key resistance
  • RES 1: 0.8450 High Mar 11    
  • PRICE: 0.8409 @ 16:27 GMT Mar 17 
  • SUP 1: 0.8369/8342 Low Mar 14 / 50-day EMA    
  • SUP 2: 0.8299/41 Low Mar 5 / 3 and a near-term bear trigger 
  • SUP 3: 0.8223 Low Dec 19 and a key support  
  • SUP 4: 0.8203 Low Mar 7 ‘22 and a lowest point of a multi-year range

A bull cycle in EURGBP remains in play and Friday’s bullish engulfing candle pattern signals a resumption of the trend and the end of the recent corrective pullback. Initial firm support to watch lies at 0.8342, the 50-day EMA. For bulls, a continuation higher and a break of 0.8450, the Mar 11 high, would open 0.8474, the Jan 20 high and the next key resistance. Clearance of this level would strengthen bullish conditions.          

163 words

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.
  • RES 4: 0.8530 76.4% retracement of the Aug 8 - Dec 19 ‘24 bear leg         
  • RES 3: 0.8494 High Aug 26 ‘24 
  • RES 2: 0.8474 High Jan 20 and a key resistance
  • RES 1: 0.8450 High Mar 11    
  • PRICE: 0.8409 @ 16:27 GMT Mar 17 
  • SUP 1: 0.8369/8342 Low Mar 14 / 50-day EMA    
  • SUP 2: 0.8299/41 Low Mar 5 / 3 and a near-term bear trigger 
  • SUP 3: 0.8223 Low Dec 19 and a key support  
  • SUP 4: 0.8203 Low Mar 7 ‘22 and a lowest point of a multi-year range

A bull cycle in EURGBP remains in play and Friday’s bullish engulfing candle pattern signals a resumption of the trend and the end of the recent corrective pullback. Initial firm support to watch lies at 0.8342, the 50-day EMA. For bulls, a continuation higher and a break of 0.8450, the Mar 11 high, would open 0.8474, the Jan 20 high and the next key resistance. Clearance of this level would strengthen bullish conditions.