Free Trial

Fresh YTD Lows

EURGBP TECHS
  • RES 4: 0.8814 High May 5
  • RES 3: 0.8768 High May 5
  • RES 2: 0.8705 50-day EMA
  • RES 1: 0.8600/42 High Jun 12 / 20-day EMA
  • PRICE: 0.8598 @ 16:38 BST Jun 12
  • SUP 1: 0.8541 Low Jun 9 and intraday low
  • SUP 2: 0.8522 Low Aug 30 2022
  • SUP 3: 0.8519/04 1.0% 10-dma env / 3.0% Lower Bollinger Band
  • SUP 4: 0.8454 76.4% retracement of the Mar - Sep 2022 bull cycle

EURGBP traded lower Friday to a new YTD low. Price bounced on Monday, however the recent break of support confirms a resumption of the downtrend and maintains the bearish price sequence of lower lows. Moving average studies also highlight a bearish condition. The focus is on 0.8547 - touched Friday - the Dec 1 2022 low and a key support. A clear break of this level would reinforce a bearish theme. Initial resistance to watch is 0.8642, the 20-day EMA.

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.