MNI BRIEF: German Economy "Treading Water", Prices Stable -Ifo

MNI BRIEF: China To Release Childcare Subsidies, Boost Income

MNI: ITALY FEB HICP 0.1% M/M, 1.7% Y/Y

MNI BRIEF: PBOC Mulls New Tools Targeting Consumption

MNI BRIEF: China House Prices Up In February

MNI BRIEF: China Data Shows Good Foundation Despite Issues

MNI:US FEB RETAIL SALES +0.2%; EX-MOTOR VEH +0.3%

US FEB RETAIL SALES $722.7B VS JAN $721.3B

MNI: FOREIGN HOLDINGS OF CANADA SECURITIES +7.9B CAD IN JAN

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EURGBP TECHS: Key Short-Term Resistance Still Intact

EURGBP TECHS
Foreign Exchange Technical AnalysisCEEMEABulletUKMarketsForeign Exchange Bullets
  • RES 4: 0.8474 High Jan 20 and a key resistance    
  • RES 3: 0.8420 76.4% retracement of the Jan 20 - Feb 3 bear leg  
  • RES 2: 0.8388 61.8% retracement of the Jan 20 - Feb 3 bear leg  
  • RES 1: 0.8378 High Jan 6   
  • PRICE: 0.8229 @ 07:08 GMT Feb 14 
  • SUP 1: 0.8297/8248 Low Feb 4 / 3 and a bear trigger
  • SUP 2: 0.8223 Low Dec 19 and a key support  
  • SUP 3: 0.8203 Low Mar 7 ‘22 and a lowest point of a multi-year range   
  • SUP 4: 0.8163 123.6% retracement of the Dec 19 - Jan 20 bull leg 

EURGBP is in consolidation mode. The recent move higher still appears to have undermined a bearish threat, however. 0.8378, the Jan 6 high, has been defined as a key short-term pivot resistance. Clearance of it would strengthen a bullish condition and signal scope for a stronger recovery. For bears, a resumption of bearish price action would once again refocus attention on 0.8248, the Feb 3 low and bear trigger.

170 words

To read the full story

Close

Why MNI

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.
  • RES 4: 0.8474 High Jan 20 and a key resistance    
  • RES 3: 0.8420 76.4% retracement of the Jan 20 - Feb 3 bear leg  
  • RES 2: 0.8388 61.8% retracement of the Jan 20 - Feb 3 bear leg  
  • RES 1: 0.8378 High Jan 6   
  • PRICE: 0.8229 @ 07:08 GMT Feb 14 
  • SUP 1: 0.8297/8248 Low Feb 4 / 3 and a bear trigger
  • SUP 2: 0.8223 Low Dec 19 and a key support  
  • SUP 3: 0.8203 Low Mar 7 ‘22 and a lowest point of a multi-year range   
  • SUP 4: 0.8163 123.6% retracement of the Dec 19 - Jan 20 bull leg 

EURGBP is in consolidation mode. The recent move higher still appears to have undermined a bearish threat, however. 0.8378, the Jan 6 high, has been defined as a key short-term pivot resistance. Clearance of it would strengthen a bullish condition and signal scope for a stronger recovery. For bears, a resumption of bearish price action would once again refocus attention on 0.8248, the Feb 3 low and bear trigger.