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Bullish Outlook

EURGBP TECHS
  • RES 4: 0.8670 High Jul 20
  • RES 3: 0.8658 High Sep 29 and key resistance
  • RES 2: 0.8624 High Oct 1
  • RES 1: 0.8598 76.4% retracement of the Sep 29 - Oct 26 sell-off
  • PRICE: 0.8547 @ 16:31 GMT Nov 10
  • SUP 1: 0.8514 50-day EMA
  • SUP 2: 0.8463/41 Low Nov 3 / Low Nov 1
  • SUP 3: 0.8403 Low Oct 26 and the bear trigger
  • SUP 4: 0.8356 Low Feb 26, 2020

EURGBP remains below last week's high of 0.8595 on Nov 5. The recent rally confirmed a breach of the 50-day EMA. The clear break of this EMA has improved short-term conditions for bulls and signals scope for an extension higher. 0.8561, 61.8% of the Sep 29 - Oct 26 sell-off, has been cleared and this opens 0.8598, the 76.4% retracement. Initial firm support lies at 0.8463, Nov 3 low.

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