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Free AccessOff Highs, But Remains Bullish
- RES 4: 0.8658 High Sep 28 2021
- RES 3: 0.8624 High Oct 1 2021
- RES 2: 0.8600 High Dec 8 2022
- RES 1: 0.8554 2.0% 10-dma envelope
- PRICE: 0.8448 @ 16:26 GMT Mar 31
- SUP 1: 0.8433/8386 Low Mar 31 / Low Mar 29
- SUP 2: 0.8296 Low Mar 23 and a key support
- SUP 3: 0.8278 Low Mar 7
- SUP 4: 0.8203 Low Mar 7 and the bear trigger
EURGBP faded off highs Thursday, but remains strong on the week. The cross has this week cleared a key short-term resistance at 0.8458, Mar 17 high, highlighting a reversal. The break also confirms a resumption of the uptrend that started Mar 7 and signals scope for an extension near-term. With prices above 0.8500, the focus shifts to 0.8554, the upper band of the 2.0% 10-dma envelope. Initial firm support is at Tuesday’s low of 0.8386.
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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.