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Clears First Resistance

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 Oct 12
  • RES 1: 0.8829 High Nov 09
  • PRICE: 0.8714 @ 16:29 GMT Nov 10
  • SUP 1: 0.8685 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 and Wednesday’s gains reinforce this theme. The cross has breached resistance at 0.8781, the Oct 21 high. The break strengthens the bullish theme and opens 0.8867 next, the Oct 12 high. Note that moving average studies are in a bull mode position. For bears, a reversal lower and a move through the Oct 31 low of 0.8560 is required to 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 Oct 12
  • RES 1: 0.8829 High Nov 09
  • PRICE: 0.8714 @ 16:29 GMT Nov 10
  • SUP 1: 0.8685 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 and Wednesday’s gains reinforce this theme. The cross has breached resistance at 0.8781, the Oct 21 high. The break strengthens the bullish theme and opens 0.8867 next, the Oct 12 high. Note that moving average studies are in a bull mode position. For bears, a reversal lower and a move through the Oct 31 low of 0.8560 is required to resume recent bearish activity.