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EURGBP TECHS: Bears Remain In The Driver’s Seat

EURGBP TECHS
Metals bulletForeign Exchange Technical AnalysisCommoditiesCEEMEABulletUKGlobalForeign Exchange BulletsRegionMarkets
  • RES 4: 0.8494 High Aug 26
  • RES 3: 0.8436/64 50-day EMA / High Sep 11 
  • RES 2: 0.8400 Low Aug 30
  • RES 1: 0.8397 20-day EMA 
  • PRICE: 0.8337 @ 16:46 BST Sep 30
  • SUP 1: 0.8313/11 Intraday Low / 3.00 projection of the Aug 8 - 13 - 14 price swing 
  • SUP 2: 0.8276 3.382 proj 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   

A bearish theme in EURGBP remains intact and recent weakness reinforces this theme. The cross has breached 0.8400, the Aug 30 low, confirming a resumption of the bear cycle. Furthermore, 0.8383, the Jul 17 low and a key support, has been cleared, strengthening the downtrend. Sights are on 0.8311 next, a Fibonacci projection. Initial firm resistance is seen at 0.8397, the 20-day EMA.

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  • RES 4: 0.8494 High Aug 26
  • RES 3: 0.8436/64 50-day EMA / High Sep 11 
  • RES 2: 0.8400 Low Aug 30
  • RES 1: 0.8397 20-day EMA 
  • PRICE: 0.8337 @ 16:46 BST Sep 30
  • SUP 1: 0.8313/11 Intraday Low / 3.00 projection of the Aug 8 - 13 - 14 price swing 
  • SUP 2: 0.8276 3.382 proj 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   

A bearish theme in EURGBP remains intact and recent weakness reinforces this theme. The cross has breached 0.8400, the Aug 30 low, confirming a resumption of the bear cycle. Furthermore, 0.8383, the Jul 17 low and a key support, has been cleared, strengthening the downtrend. Sights are on 0.8311 next, a Fibonacci projection. Initial firm resistance is seen at 0.8397, the 20-day EMA.