FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Corrective Bounce

EURGBP TECHS
  • RES 4: 0.8701/21 High May 7 / High Apr 26 and the bull trigger
  • RES 3: 0.8666 23.6% Sep'20 - Apr'21 Sell-Off
  • RES 2: 0.8646/72 High Jun 1 / High May 25
  • RES 1: 0.8642 High Jul 19
  • PRICE: 0.8622 @ 17:07 BST Jul 19
  • SUP 1: 0.8504 Low Jul 14 and key short-term support
  • SUP 2: 0.8472/69 Low Apr 5 / 1% 10-dma envelope
  • SUP 3: 0.8430 Low Feb 27, 2020
  • SUP 4: 0.8356 Low Feb 26, 2020

EURGBP traded sharply higher Monday. The current recovery is likely a correction with S/T bearish conditions still dominating. This follows the recent break of support at 0.8531, 76.4% of the Apr 5 - 26 rally and 0.8530, the Jun 23 low. The break signals potential for a move towards support at 0.8472, Apr 5 low. The cross traded above the Jul 1 high at 0.8616. A clear break and hold above this hurdle is required to neutralise the current bearish theme.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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.