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Focus Is On Support

EURO-STERLING TECHS
  • RES 4: 0.9176 High Jun 29 and the key bull trigger
  • RES 3: 0.9148 High Jul 27
  • RES 2: 0.9087 High Jul 29
  • RES 1: 0.9070 High Aug 17
  • PRICE: 0.8988 @ 18:04 BST Aug 20
  • SUP 1: 0.8970 Low Jul 11 and a key intraday support
  • SUP 2: 0.8938 Low Jul 10
  • SUP 3: 0.8931 100-dma
  • SUP 4: 0.8864 Low Jun 9

EURGBP traded lower Thursday. The cross did attempt a push higher Monday and managed to probe resistance at 0.9059, Aug 5 high. A clear break however failed to materialise. This would have signalled scope for stronger gains opening 0.9087, Jul 29 high ahead of key resistance levels at 0.9148, Jul 27 high and 0.9176, Jun 29 high. Watch key support at 0.8970 Aug 11 low where a break would instead threaten a deeper pullback.

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