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Looking For A Break Higher

EURO-STERLING TECHS
  • RES 4: 0.9264 2.0% 10-dma envelope
  • RES 3: 0.9184 61.8% Fibonacci retracement of the Mar - Apr decline
  • RES 2: 0.9176 High Jun 29 and the bull trigger
  • RES 1: 0.9148 High Jul 27
  • PRICE: 0.9124 @ 06:04 BST Jul 28
  • SUP 1: 0.9056 20-Day EMA
  • SUP 2: 0.9001 Low Jul 21 and key near-term support
  • SUP 3: 0.8996 50-day EMA
  • SUP 4: 0.8938 Low Jul 10 and the key near-term support

EURGBP found support Jul 21 and has defined a S/T base at 0.9001.
The outlook remains bullish. This follows recent Japanese candle
patterns that highlighted a reversal. Activity Jun 13, was a bullish
engulfing and followed a doji candle on Jun 10. Together they signalled a
reversal off 0.8938, Jun 10 low. The focus is on 0.9145, Jun 30 high and
0.9176, Jun 29 high. A break of 0.9001 would concern bulls.

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