MNI China Daily Summary: Friday, July 5

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Finds Support

EURGBP TECHS
  • RES 4: 0.8670 High Jul 20
  • RES 3: 0.8658 High Sep 29 and a key resistance
  • RES 2: 0.8624 High Oct 1
  • RES 1: 0.8553/8600 High Dec 10 and 14 / High Dec 8
  • PRICE: 0.8520 @ 06:15 GMT Dec 16
  • SUP 1: 0.8486 Low Dec 15
  • SUP 2: 0.8446 Low Nov 29 and a key S/T support
  • SUP 3: 0.8411/8381 Low Nov 26 / Low Nov 22 and the bear trigger
  • SUP 4: 0.8356 Low Feb 26, 2020

EURGBP briefly probed support at 0.8489 yesterday, the Nov 22 low. The recovery keeps alive a short-term bull theme and attention turns to resistance at 0.8553, the Dec 10 / 14 high. Clearance of this level would expose the recent high at 0.8600 on Dec 8. On the downside, a clear break of the 0.8489 handle would set the scene for a deeper pullback that would expose 0.8446 initially, the Nov 29 low.

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