MNI: PBOC Net Drains CNY20.7 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Lower At 7.1886 Thurs; -2.34% Y/Y

MNI BRIEF: PBOC To Issue Record Volume of CNH Bills Next Week

CHINA DEC CPI +0.1% Y/Y VS MEDIAN +0.1%; NOV +0.2%: NBS

MNI BRIEF: US Hiring, Pay Growth Continue Downshift- ADP

MNI China Daily Summary: Wednesday, January 8

MNI:AUSTRALIA NOV TRADE BALANCE A$+7079

MNI: AUSTRALIA NOV RETAIL SALES +0.8% M/M

MNI: UK DEC BRC SHOP PRICES +0% M/M, -1% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EURGBP TECHS: Monitoring Resistance At The 50-Day EMA

EURGBP TECHS
Foreign Exchange Technical AnalysisCEEMEABulletUKMarketsForeign Exchange Bullets
  • RES 4: 0.8448 High Oct 31 and reversal trigger
  • RES 3: 0.8376 High Nov 19 and a bull trigger 
  • RES 2: 0.8356 High Nov 27
  • RES 1: 0.8319 50-day EMA 
  • PRICE: 0.8293 @ 05:26 GMT Dec 24  
  • SUP 1: 0.8223 Low Dec 19
  • SUP 2: 0.8203 Low Mar 7 2022 and a major support 
  • SUP 3: 0.8200 Round number support
  • SUP 4: 0.8188 1.00 proj of the Oct 31 - Nov 11 - 19 price swing

EURGBP continues to trade above its recent lows. Resistance at 0.8319, the 50-day EMA remains intact - for now. A clear breach of this EMA would undermine the bear theme and signal scope for a stronger recovery. The trend direction remains down and support at 0.8225, the Dec 11 low, has recently been pierced. A clear break of it would open the major support at 0.8203, the Mar 7 ‘22 low and the lowest point of a multi-year range.

150 words

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.
  • RES 4: 0.8448 High Oct 31 and reversal trigger
  • RES 3: 0.8376 High Nov 19 and a bull trigger 
  • RES 2: 0.8356 High Nov 27
  • RES 1: 0.8319 50-day EMA 
  • PRICE: 0.8293 @ 05:26 GMT Dec 24  
  • SUP 1: 0.8223 Low Dec 19
  • SUP 2: 0.8203 Low Mar 7 2022 and a major support 
  • SUP 3: 0.8200 Round number support
  • SUP 4: 0.8188 1.00 proj of the Oct 31 - Nov 11 - 19 price swing

EURGBP continues to trade above its recent lows. Resistance at 0.8319, the 50-day EMA remains intact - for now. A clear breach of this EMA would undermine the bear theme and signal scope for a stronger recovery. The trend direction remains down and support at 0.8225, the Dec 11 low, has recently been pierced. A clear break of it would open the major support at 0.8203, the Mar 7 ‘22 low and the lowest point of a multi-year range.