Free Trial

Downside Persists With 0.8700 Cleared

EURGBP TECHS
  • RES 4: 0.8840 High Feb 4
  • RES 3: 0.8797 High Feb 9
  • RES 2: 0.8739 Low Feb 5
  • RES 1: 0.8700 Feb 18 high
  • PRICE: 0.8610 @ 17:21 GMT Feb 24
  • SUP 1: 0.8541 Low Feb 24
  • SUP 2: 0.8517 3.0% Lower Bollinger Band
  • SUP 3: 0.8508 2.0% 10-dma Envelope
  • SUP 4: 0.8469 38.2% 2015 - 2016 Rally

EURGBP moved sharply lower in early Asia-Pac hours, hitting new cycle lows down at 0.8541 before recovering well into the Wednesday US close. Bears need to reinforce the move through 0.86 support to cement any further weakness, which would initially expose 0.8517 vol band support. Initial resistance is at 0.8700, Feb 18 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.