Free Trial

Maintains A Weaker Tone

EURGBP TECHS
  • RES 4: 0.8624/58 High Oct 1 / High Sep 29
  • RES 3: 0.8540 50-day EMA
  • RES 2: 0.8518 High Oct 12 and a firm resistance
  • RES 1: 0.8487 High Oct 15
  • PRICE: 0.8437 @ 06:20 BST Oct 18
  • SUP 1: 0.8424 Low Oct 15
  • SUP 2: 0.8408 1.0% 10-dma envelope
  • SUP 3: 0.8356 Low Feb 26, 2020
  • SUP 4: 0.8339 Low Feb 25, 2020

EURGBP weakness extended further Friday and a bearish theme remains intact. The cross has cleared 0.8450, the Oct 10 low and a key support. This reinforces a bearish theme and paves the way for an extension lower, opening 0.8408, a vol based support. Further out, there is scope too for an extension below 0.8400. Firm resistance has been defined at 0.8518, Oct 12 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.