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Bullish Price Activity

EURGBP TECHS
  • RES 4: 0.8627 High Jul 4
  • RES 3: 0.8585 High Jul 21 and a key resistance
  • RES 2: 0.8525 High Jul 25
  • RES 1: 0.8505 Intraday high
  • PRICE: 0.8501 @ 14:32 BST Aug 19
  • SUP 1: 0.8443 20-day EMA
  • SUP 2: 0.8388/40 Low Aug 17 / 2 and the bear trigger
  • SUP 3: 0.8313 Low Apr 22
  • SUP 4: 0.8273 2.0% 10-dma envelope and low Apr 14

EURGBP continues to climb and today’s gains have resulted in a break of 0.8493, the Aug 12 high. This threatens the recent bearish theme and signals scope for an extension higher. The cross is trading above the 20- and 50-day EMAs, reinforcing a developing bullish theme. A continuation higher would open 0.8525, the Jul 25 high. Initial key support has been defined at 0.8388, the Aug 17 low.

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