Free Trial

Clears Key Support

EURGBP TECHS
  • RES 4: 0.9093 High Dec 29
  • RES 3: 0.9085 High Jan 6
  • RES 2: 0.8996/98 High Jan 12 / 50-day EMA
  • RES 1: 0.8925 High Jan 18
  • PRICE: 0.8854 @ 10:01 GMT Jan 20
  • SUP 1: 0.8852 Intraday low
  • SUP 2: 0.8808 Low May 13
  • SUP 3: 0.8784 2.0% 10-dma envelope
  • SUP 4: 0.8759 Low May 12, 2020

EURGBP is trading lower and has this morning cleared a key support between 0.8867 and 0.8861. This marks the Nov 23 and Nov 11 lows and represents a significant technical breakout. The break lower reinforces underlying bearish conditions and paves the way for a move towards 0.8800 and 0.8784. On the upside, a key short-term resistance has been defined at 0.8925 where a break is required to ease the bearish pressure. Heavy!

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.