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Consolidation Mode

EURGBP TECHS
  • RES 4: 0.8703 1.236 proj of the Aug 10 - Sep 7 - Sep 16 rally
  • RES 3: 0.8670 High Jul 20 and key resistance
  • RES 2: 0.8624/58 High Oct 1 / High Sep 29
  • RES 1: 0.8547 50-day EMA
  • PRICE: 0.8482 @ 06:20 BST Oct 14
  • SUP 1: 0.8472 Low Oct 11
  • SUP 2: 0.8450/46 Low Aug 10 / 1.0% 10-dma envelope
  • SUP 3: 0.8430 Low Feb 27, 2020
  • SUP 4: 0.8356 Low Feb 26, 2020

EURGBP is unchanged and continues to consolidate near recent lows. A bearish theme dominates following the recent reversal from 0.8658, Sep 29 high. Support at 0.8526, Sep 28 low and 0.8501, Sep 16 low have been cleared. This strengthens a bearish case and opens 0.8450, Oct 8 low. The cross needs to breach 0.8658, Sep 29 high to reinstate a bull theme. Firm resistance is at 0.8547, the 50-day EMA.

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