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Bullish Outlook

EURGBP TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 0.8992 61.8% Retracement of the Sep 26 - Dec 1 bear leg
  • RES 3: 0.8980 High Sep 29
  • RES 2: 0.8907 50.0% retracement of the Sep 26 - Dec 1 bear leg
  • RES 1: 0.8877 High Dec 30 and the bull trigger
  • PRICE: 0.8832 @ 06:14 GMT Jan 11
  • SUP 1: 0.8769 Low Jan 9
  • SUP 2: 0.8735 50-day EMA
  • SUP 3: 0.8646 High Dec 8
  • SUP 4: 0.8593 Low Dec 15

EURGBP is consolidating and is trading closer to its recent highs. The outlook is bullish and last month's break of 0.8829, the Nov 9 high, reinforced this positive theme. The move higher opens 0.8907 next, a Fibonacci retracement point. Note too that moving average studies highlight a bullish backdrop, reinforcing the current trend direction. Initial firm support is seen at 0.8735, the 50-day EMA. A clear break of this average would be bearish.

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  • RES 4: 0.8992 61.8% Retracement of the Sep 26 - Dec 1 bear leg
  • RES 3: 0.8980 High Sep 29
  • RES 2: 0.8907 50.0% retracement of the Sep 26 - Dec 1 bear leg
  • RES 1: 0.8877 High Dec 30 and the bull trigger
  • PRICE: 0.8832 @ 06:14 GMT Jan 11
  • SUP 1: 0.8769 Low Jan 9
  • SUP 2: 0.8735 50-day EMA
  • SUP 3: 0.8646 High Dec 8
  • SUP 4: 0.8593 Low Dec 15

EURGBP is consolidating and is trading closer to its recent highs. The outlook is bullish and last month's break of 0.8829, the Nov 9 high, reinforced this positive theme. The move higher opens 0.8907 next, a Fibonacci retracement point. Note too that moving average studies highlight a bullish backdrop, reinforcing the current trend direction. Initial firm support is seen at 0.8735, the 50-day EMA. A clear break of this average would be bearish.