FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EURGBP TECHS: Trading Closer To Its Recent Lows

EURGBP TECHS
  • RES 4: 0.8586 76.4% retracement of the Apr 23 - Jun 14 bear leg  
  • RES 3: 0.8568 High May 20
  • RES 2: 0.8462/99 50-day EMA / High Jul 1 and a key resistance 
  • RES 1: 0.8428 20-day EMA  
  • PRICE: 0.8409 @ 08:29 BST Jul 25
  • SUP 1: 0.8383 Low Jul 17 
  • SUP 2: 0.8345 1.0% 10-dma envelope
  • SUP 3: 0.8366 2.236 proj of the Apr 23 - 30 - May 9 price swing
  • SUP 4: 0.8322 2.618 proj of the Apr 23 - 30 - May 9 price swing

EURGBP traded lower again Wednesday. A bear cycle remains intact and the cross is trading closer to its recent lows. Recent weakness resulted in a print below key support at 0.8397, the Jun 14 low and a bear trigger. Clearance of this level would resume the medium-term downtrend and pave the way for an extension towards 0.8366, a Fibonacci projection. Initial firm resistance is seen at 0.8428, the 20-day EMA. 

Foreign Exchange Technical AnalysisCEEMEABulletUKGlobalForeign Exchange BulletsRegion

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.