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Key Resistance Remains Exposed

EURGBP TECHS
  • RES 4: 0.8840 High Feb 4
  • RES 3: 0.8791/8843 High Feb 12 / 2.0% 10-dma envelope
  • RES 2: 0.8731 High Feb 26
  • RES 1: 0.8721 High Apr 26
  • PRICE: 0.8702 @ 05:53 BST Apr 28
  • SUP 1: 0.8650 20-day EMA
  • SUP 2: 0.8589 Low Apr 19
  • SUP 3: 0.8472 Low Apr 5 and the bear trigger
  • SUP 4: 0.8430/8397 Low Feb 27, 2020 / 3.0% Lower Bollinger Band

EURGBP remains closer to recent highs. The cross on Monday probed former resistance at 0.8719, Apr 16 high. Last week's strong gains on Thursday and Friday signal scope for an extension higher and a clear break of 0.8719 would confirm a resumption of the uptrend that started Apr 4. This would open 0.8731, Feb 26 high and 0.8762, a retracement level. Key support to watch has been defined at 0.8589, Apr 19 low.

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