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Clears Key Resistance

  • RES 4: 0.8761 1.00 proj of the Apr 14 - May 12 - 17 price swing
  • RES 3: 0.8721 High Apr 26 2021
  • RES 2: 0.8701 High May 7 2021
  • RES 1: 0.8594 High Jun 13
  • PRICE: 0.8659 @ 14:44 BST Jun 14
  • SUP 1: 0.8520 20-day EMA
  • SUP 2: 0.8474 50-day EMA
  • SUP 3: 0.8433 Low May 23
  • SUP 4: 0.8393 Low May 17 and a key support

EURGBP has traded higher today and in the process has cleared resistance at 0.8619, the May 12 high and an important short-term bull trigger. The break reinforces bullish conditions and has confirmed a resumption of the underlying uptrend. The focus is on a climb towards 0.8701, the May 7 2021 high and 0.8721, the Apr 26 high. On the downside, initial support is seen at 0.8520, the 20-day EMA.

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