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EURGBP TECHS: Southbound 

EURGBP TECHS
Foreign Exchange Technical AnalysisCEEMEABulletUKGlobalForeign Exchange BulletsRegionMarkets
  • RES 4: 0.8523 High Aug 22 
  • RES 3: 0.8494 High Aug 26  
  • RES 2: 0.8461/64 50-day EMA / High Sep 12
  • RES 1: 0.8441 20-day EMA 
  • PRICE: 0.8399 @ 06:13 BST Sep 20
  • SUP 1: 0.8383/81 Low Jul 17 and a key support / Intraday low  
  • SUP 2: 0.8340 Low Aug 2 ‘22
  • SUP 3: 0.8311 3.00 projection of the Aug 8 - 13 - 14 price swing
  • SUP 4: 0.8250 Low Apr 14 ‘22  

A bearish theme in EURGBP remains intact and this week’s move lower reinforces this theme. The cross has breached support at 0.8400, the Aug 30 low. A clear break of this level confirms a resumption of the bear cycle and also confirms a recent bear flag on the daily chart - a continuation pattern. Sights are on 0.8383, the Jul 17 low and the next key support. A break would open 0.8340, the Aug 2 ‘22 low. Resistance to watch is 0.8461, 50-day EMA. 

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  • RES 4: 0.8523 High Aug 22 
  • RES 3: 0.8494 High Aug 26  
  • RES 2: 0.8461/64 50-day EMA / High Sep 12
  • RES 1: 0.8441 20-day EMA 
  • PRICE: 0.8399 @ 06:13 BST Sep 20
  • SUP 1: 0.8383/81 Low Jul 17 and a key support / Intraday low  
  • SUP 2: 0.8340 Low Aug 2 ‘22
  • SUP 3: 0.8311 3.00 projection of the Aug 8 - 13 - 14 price swing
  • SUP 4: 0.8250 Low Apr 14 ‘22  

A bearish theme in EURGBP remains intact and this week’s move lower reinforces this theme. The cross has breached support at 0.8400, the Aug 30 low. A clear break of this level confirms a resumption of the bear cycle and also confirms a recent bear flag on the daily chart - a continuation pattern. Sights are on 0.8383, the Jul 17 low and the next key support. A break would open 0.8340, the Aug 2 ‘22 low. Resistance to watch is 0.8461, 50-day EMA.