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Bullish Outlook

EURGBP TECHS
  • RES 4: 0.9066/9266 High Sep 28 / High Sep 26 and key resistance
  • RES 3: 0.8980 High Sep 29
  • RES 2: 0.8867 High Nov 12
  • RES 1: 0.8791 High Nov 07
  • PRICE: 0.8725 @ 06:09 GMT Nov 9
  • SUP 1: 0.8680 50-day EMA
  • SUP 2: 0.8560/59 Low Oct 31 / 76.4% of Aug 2 - Sep 26 rally
  • SUP 3: 0.8522 Low Aug 30
  • SUP 4: 0.8471 Low Aug 28

The short-term outlook in EURGBP remains bullish, following last week’s gains and the recovery from 0.8560, the Oct 31 low. The cross has pierced a key short-term resistance at the Oct 21 high of 0.8781. A clear breach of this hurdle would strengthen a bullish theme and open 0.8867, the Oct 12 high. For bears, a reversal lower and a move through the Oct 31 low of 0.8585 would instead resume recent bearish activity.

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  • RES 4: 0.9066/9266 High Sep 28 / High Sep 26 and key resistance
  • RES 3: 0.8980 High Sep 29
  • RES 2: 0.8867 High Nov 12
  • RES 1: 0.8791 High Nov 07
  • PRICE: 0.8725 @ 06:09 GMT Nov 9
  • SUP 1: 0.8680 50-day EMA
  • SUP 2: 0.8560/59 Low Oct 31 / 76.4% of Aug 2 - Sep 26 rally
  • SUP 3: 0.8522 Low Aug 30
  • SUP 4: 0.8471 Low Aug 28

The short-term outlook in EURGBP remains bullish, following last week’s gains and the recovery from 0.8560, the Oct 31 low. The cross has pierced a key short-term resistance at the Oct 21 high of 0.8781. A clear breach of this hurdle would strengthen a bullish theme and open 0.8867, the Oct 12 high. For bears, a reversal lower and a move through the Oct 31 low of 0.8585 would instead resume recent bearish activity.