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Clears Key Support

EURGBP TECHS
  • RES 4: 0.8624/58 High Oct 1 / High Sep 29
  • RES 3: 0.8544 50-day EMA
  • RES 2: 0.8518 High Oct 12 and a firm resistance
  • RES 1: 0.8487 Intraday high
  • PRICE: 0.8438 @ 13:00 BST Oct 15
  • SUP 1: 0.8455/50 Low Oct 14 Low Oct 10 and key support
  • SUP 2: 0.8430 Low Feb 27, 2020
  • SUP 3: 0.8420 1.0% 10-dma envelope
  • SUP 4: 0.8356 Low Feb 26, 2020

EURGBP weakness has extended once again today. Importantly, the cross has traded through 0.8450, the Oct 10 low and a key support. This reinforces a bearish theme and paves the way for an extension lower, opening 0.8430, Feb 27, 2020 low and 0.8420, a vol based support. Further out, there is scope for levels below 0.8400. Firm resistance has been defined at 0.8518, Oct 12 high.

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