Free Trial

Likely To Remain Volatile

EURGBP TECHS
  • RES 4: 0.9292 High Sep 11 and major resistance
  • RES 3: 0.9265 High Sep 14
  • RES 2: 0.9230/54 High Dec 11 / 2.0% 10-dma envelope
  • RES 1: 0.9218 High Dec 21
  • PRICE: 0.9091 @ 06:03 GMT Dec 23
  • SUP 1: 0.9070 Low Dec 21
  • SUP 2: 0.9046 20-day EMA
  • SUP 3: 0.8986/83 1.0% 10-dma env / Low Dec 4 / 17 and key support
  • SUP 4: 0.8952 76.4% retracement of the Nov 23 - Dec 11 rally

EURGBP is largely unchanged. The cross is likely to remain volatile though. The focus is on key resistance at 0.9230, Dec 11 high where a break would reinforce underlying bullish conditions and signal scope for a climb towards 0.9292, Sep 11 high. Initial support is at Monday's low of 0.9070. The key pivot support though remains 0.8983, Dec 4 / 17 low. A break would be bearish and expose a deeper sell-off.

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.