Free Trial

Clears The 20- And 50- Day EMAs

EURGBP TECHS
  • RES 4: 0.8498 High Dec 23
  • RES 3: 0.8478 High Feb 7
  • RES 2: 0.8432 High Feb 11
  • RES 1: 0.8390/0.8406 Intraday high / High Feb 25 and key resistance
  • PRICE: 0.8376 @ 14:38 GMT Mar 9
  • SUP 1: 0.8278/8203 Low Mar 8 / Low Mar 7 and key support
  • SUP 2: 0.8193 1.236 proj of the Feb 7 - 24 - 25 price swing
  • SUP 3: 0.8169 1.382 proj of the Feb 7 - 24 - 25 price swing
  • SUP 4: 0.8131 Low Jun 27, 2016

EURGBP has continued to trade higher today. The cross has cleared both the 20- and 50-day EMAs and is approaching resistance at 0.8406, the Feb 25 high. A break of this level would represent a 100.0% retracement of the most recent downleg between Feb 25 - Mar 7. The broader trend direction remains down, however, a break of 0.8406 would signal potential for a stronger recovery. Initial firm support is seen at yesterday’s 0.8278 low.

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.