Free Trial

Looking For A Break Lower

EURGBP TECHS
  • RES 4: 0.8797 High Feb 9
  • RES 3: 0.8731 High Feb 26 and the S/T bull trigger
  • RES 2: 0.8668 High Mar 3
  • RES 1: 0.8640 High Mar 16
  • PRICE: 0.8556 @ 16:16 GMT Mar 18
  • SUP 1: 0.8533 Low Mar 18 and bear trigger
  • SUP 2: 0.8522 Low Feb 28
  • SUP 3: 0.8496 3.0% Lower Bollinger Band
  • SUP 4: 0.8430 Low Feb 27

EURGBP traded slightly lower Thursday, retaining the bearish outlook. Technical signals still highlight a bearish theme and attention is on the intraday low of 0.8533, Mar 18 low. A break would resume the downtrend and expose 0.8496, a volatility based support area. On the upside, firm short-term resistance is at 0.8731, Feb 26 high. A break would allow for a stronger bounce and open 0.8797, Feb 9 high.

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.