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Key Resistance Still Intact

  • RES 4: 0.8498/8536 High Dec 23 / 2.0% 10-dma envelope
  • RES 3: 0.8478 High Feb 7
  • RES 2: 0.8458 High Mar 17 and a bull trigger
  • RES 1: 0.8400 High Mar 28
  • PRICE: 0.8388 @ 06:24 GMT Mar 29
  • SUP 1: 0.8296 Low Mar 23
  • SUP 2: 0.8278 Low Mar 7
  • SUP 3: 0.8203 Low Mar 7 and the bear trigger
  • SUP 4: 0.8131 Low Jun 27, 2016

EURGBP traded higher Monday, easing the current bearish threat. Key short-term resistance is at 0.8458, the Mar 17 high. The recent pullback from this level still highlights a negative outlook and has exposed support at 0.8278, Mar 7 low. A break of 0.8278 would suggest a stronger bearish reversal and open key short-term support at 0.8203, Mar 7 low. For bulls, a break of 0.8458, Mar 17 high, would be a positive development.

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