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Hits Bear Trigger

EURGBP TECHS
  • RES 4: 0.8797 High Feb 9
  • RES 3: 0.8731 High Feb 26 and the S/T reversal trigger
  • RES 2: 0.8668 High Mar 3
  • RES 1: 0.8646 High Mar 24
  • PRICE: 0.8538 @ 17:03 GMT Mar 29
  • SUP 1: 0.8521 38.2% 2015 - 2020 Rally
  • SUP 2: 0.8506 Low Mar 29
  • SUP 3: 0.8495 3.0% Lower Bollinger Band
  • SUP 4: 0.8430 Low Feb 27, 2020

EURGBP resumed the downward trend Monday, taking out the bear trigger on the way lower to print new multi-year lows. This exposes the 38.2% retracement of the 2015 - 2020 rally at 0.8521 which price dipped below Monday. A break would open 0.8495, a volatility based support. Firm trend resistance is at 0.8731, Feb 26 high. A breach of this hurdle is needed to signal a short-term reversal.

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