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Fresh YTD Lows

EURGBP TECHS
  • RES 4: 0.8814 High May 5
  • RES 3: 0.8768 High May 5
  • RES 2: 0.8712 50-day EMA
  • RES 1: 0.8636/52 High Jun 5 / 20-day EMA
  • PRICE: 0.8548 @ 16:17 BST Jun 9
  • SUP 1: 0.8547 Low Jun 9
  • SUP 2: 0.8522 Low Aug 30 2022
  • SUP 3: 0.8519 1.0% 10-dma envelope
  • SUP 4: 0.8505 3.0% Lower Bollinger Band

EURGBP continues to press to new YTD lows into the Friday close. The primary trend direction remains down, highlighted by a bearish price sequence of lower lows and lower highs. Furthermore, moving average studies also highlight a bearish condition - the 50-dma recently crossed below the 200-dma, confirming a death cross signal. The focus is on 0.8547 - touched Friday - the Dec 1 2022 low and a key support. Initial resistance to watch is 0.8652, the 20-day EMA.

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