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Holding On To Its Recent Gains

EURGBP TECHS
  • 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.

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  • 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.