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Multi-Year Lows

EURGBP TECHS
  • RES 4: 0.8498 High Dec 23
  • RES 3: 0.8473 50-day EMA
  • RES 2: 0.8444 20-day EMA
  • RES 1: 0.8381/8419 Nov 22 low / High Jan 3
  • PRICE: 0.8350 @ 16:45 GMT Jan 5
  • SUP 1: 0.8335 Intraday low
  • SUP 3: 0.8332 1.0% 10-dma envelope
  • SUP 4: 0.8282/77 Low Feb’20 / Dec’19 and key bear trigger
  • SUP 4: 0.8242 50% Fib Retracement 2015-2020 Upleg

EURGBP remains acutely weak and has printed a fresh multi-year low of 0.8335. Continued weakness has cemented the breach of key support at 0.8381, Nov 22 low and confirmed a resumption of the broader downtrend. This opens the major support and bear triggers at 0.8282/77. Note that the 0.8300 area marks the base of a broad multi-year range and a major support. Initial firm resistance is at 0.8419, Monday’s high.

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