Free Trial

Cracking Support

EURGBP TECHS
  • RES 4: 0.8701/21 High May 7 / High Apr 26 and the bull trigger
  • RES 3: 0.8672 High May 25
  • RES 2: 0.8610/70 High Jul 22 / High Jul 20 and a key resistance
  • RES 1: 0.8580 50-day EMA
  • PRICE: 0.8501 @ 16:52 BST Aug 05
  • SUP 1: 0.8491 Low Aug 05
  • SUP 2: 0.8479 1% 10-dma envelope
  • SUP 3: 0.8472 Low Apr 5
  • SUP 4: 0.8430 Low Feb 27, 2020

EURGBP is cracking through support, with the rate showing below 0.85 to touch 0.8491. This represents the near-term bear trigger and opens losses toward the early April lows of 0.8472. Moving average studies remain in a bear mode highlighting a downside theme. On the upside, key resistance is unchanged at 0.8670, the Jul 20 high.

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.