Free Trial

Holding On To Its Recent Gains

  • RES 4: 0.8658 High Sep 29 2021
  • RES 3: 0.8624/35 High Oct 1 2021 / 2.0% 10-dma envelope
  • RES 3: 0.8600 High Dec 8 2021
  • RES 1: 0.8591 High May 6
  • PRICE: 0.8555 @ 16:55 BST May 11
  • SUP 1: 0.8468 High Apr 27 and a recent breakout level
  • SUP 2: 0.8399/67 50-day EMA / Low May 2
  • SUP 3: 0.8313 Low Apr 22
  • SUP 4: 0.8250 Low Apr 14 and a key support

EURGBP is holding on to its recent gains. The outlook remains bullish following last week’s climb to 0.8591. The recent rally reinforces a bullish theme and marks an extension of the bull cycle that started from 0.8250, the Apr 14 low. This signals scope for a climb towards the 0.8600 handle next. On the downside, key short-term support is unchanged at 0.8367, the May 2 low. Initial support is seen at 0.8468, Apr 27 high.

MNI London Bureau | +44 203-865-3809 |

To read the full story



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.