Free Trial

Trading Below Last Week’s High


Bobl Downside Structures Feature


SOFR Midcurve Put spd


Block, Second Sep Quarterly Put Fly, Tighter Legs

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Likely To Pressure Support Again

  • RES 4: 0.9087 High Jul 29
  • RES 3: 0.9070 High Aug 17
  • RES 2: 0.9044 High Aug 24 and key near-term resistance
  • RES 1: 0.9008/13 50- and 20-day EMA
  • PRICE: 0.8922 @ 17:36 BST Aug 28
  • SUP 1: 0.8912 Low Jun 16 / Aug 28
  • SUP 2: 0.8905 1.0% Lower 10-dma envelope
  • SUP 3: 0.8864 Low Jun 9 and 61.8% of the Apr 30 - Jun 29 rally
  • SUP 4: 0.88330 Low Jun 15

EURGBP maintains a bearish outlook. This strengthened Friday as the cross hit new multi-month lows. The print below former support at 0.8938, Jul 10 low sets the scene for a deeper pullback following the recent failure to build on gains in early August. A continued break lower would open 0.8912 next, Jun 16 low and 0.8864, the Jun 9 low and a Fibonacci retracement. Clearance of 0.9044 is required to suggest a change in direction.

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

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.