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Needle Still Points South

EURGBP TECHS
  • RES 4: 0.8670 High Jul 20 and key resistance
  • RES 3: 0.8659 High Jul 21
  • RES 2: 0.8614/18 High Sp 7 / 76.4% of the Jul 20 - Aug 10 sell-off
  • RES 1: 0.8558 20-day EMA
  • PRICE: 0.8536 @ 06:04 BST Sep 14
  • SUP 1: 0.8511 Low Sep 13
  • SUP 2: 0.8506/02 Low Jul 19 / 76.4% of the Aug 10 - Sep 7 rally
  • SUP 3: 0.8484 Low Aug 16
  • SUP 4: 0.8450 Low Aug 10 and the bear trigger

EURGBP traded sharply lower Sep 9, tilting the near-term outlook negative. The cross traded lower yesterday before finding some support. Key short-term support at 0.8543, Aug 24 low was cleared last week exposing 0.8506 and 0.8484 further out, the Jul 19 and Aug 16 lows respectively. A key short-term resistance has been defined at 0.8614, the Sep 7 high where a break is required to reinstate a bullish theme.

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