Free Trial

Fresh YTD Lows

EURGBP TECHS
  • RES 4: 0.8835 High May 3
  • RES 3: 0.8814 High May 4
  • RES 2: 0.8752 50-day EMA
  • RES 1: 0.8712 20-day EMA
  • PRICE: 0.8644 @ 16:04 BST May 30
  • SUP 1: 0.8628 Low May 30
  • SUP 2: 0.8593 Low Dec 15 2022
  • SUP 3: 0.8562 Low Dec 13 2022
  • SUP 4: 0.8547 Low Dec 1 2022 and key support

The EURGBP short-term trend needle continues to point south and the cross has resumed its downtrend Tuesday, clearing recent lows and confirming a breach of 0.8661, the May 11 low. The cross is also trading at YTD lows. This maintains the bearish sequence of lower lows and lower highs and it is worth noting that 50- and 200-dmas are on the cusp of death cross - a bearish technical signal. Initial firm resistance is at 0.8712 the 20-day EMA.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.