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Closer to Support

EURGBP TECHS
  • RES 4: 0.8526 76.4% retracement of the Dec 8 - Feb 3 downleg
  • RES 3: 0.8512 High Dec 22
  • RES 2: 0.8480 61.8% retracement of the Dec 8 - Feb 3 downleg
  • RES 1: 0.8432/78 High Feb 11 / High Feb 7
  • PRICE: 0.8343 @ 09:37 GMT Feb 18
  • SUP 1: 0.8331 76.4% retracement of the Feb 3 - 7 uptrend
  • SUP 2: 0.8285 Low Feb 3
  • SUP 3: 0.8282/77 Low Feb’20 / Dec’19 and key bear trigger
  • SUP 4: 0.8242 50% Fibonacci Retracement 2015-2020 Upleg

EURGBP remains weak, printing a new weekly low at 0.8334 ahead of the Thursday close. This keeps the cross below both the 20- and 50-day EMAs and reverses the previously bullish outlook. The recovery off the Feb 3 low has now been erased, leaving markets eyeing first key support of 0.8331 - 76.4% retracement of the Feb 3 - 7 uptrend.

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