EURGBP TECHS: Approaching Key Support  

• RES 4: 0.8523 High Aug 22
• RES 3: 0.8499 61.8% retracement of the Aug 8 / Oct 18 bear leg   
• RES 2: 0.8464 High Sep 11 and a key resistance
• RES 1: 0.8383/0.8448 50-day EMA / High Oct 31 and reversal trigger 
• PRICE: 0.8311 @ 06:43 GMT Nov 7 
• SUP 1: 0.8295 Low Oct 18 and the bear trigger 
• SUP 2: 0.8276 3.382 projection of the Aug 8 - 13 - 14 price swing 
• SUP 3: 0.8250 Low Apr 14 ‘22
• SUP 4: 0.8203 Low Mar 7 2022 and a major support   

EURGBP traded lower Wednesday and the cross remains soft as it extends the pullback from last week’s high. The move down exposes key short-term support at 0.8295, the Oct 18 low, where a break would confirm a resumption of the current downtrend. Moving average studies remain in a bear-mode position, highlighting a dominant downtrend. Key short-term resistance and a reversal trigger is at 0.8448, the Oct 31 high.