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Outlook Remains Bearish

EURGBP TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 0.8645 High Apr 23 and the bull trigger
  • RES 3: 0.8613 1.0% High May 9 and 10-dma envelope
  • RES 2: 0.8557 50-day EMA
  • RES 1: 0.8543 20-day EMA
  • PRICE: 0.8502 @ 06:26 BST May 30
  • SUP 1: 0.8484 Low May 29
  • SUP 2: 0.8454 76.4% of the Mar 7 - Sep 26 ‘23 bull phase
  • SUP 3: 0.8408 Low Aug 24 2023
  • SUP 4: 0.8388 Low Aug 17 2022

EURGBP traded lower Wednesday before finding support and recovering from 0.8484, the day low. A bearish theme remains in play and key supports have recently been pierced; the 0.8500 pivot level, and an important support zone between 0.8498, the Feb 14 low, and 0.8493, the Aug 23 ‘23 low. A clear break of these price points would strengthen a bearish theme. Initial firm resistance is 0.8543, the 20-day EMA.

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  • RES 4: 0.8645 High Apr 23 and the bull trigger
  • RES 3: 0.8613 1.0% High May 9 and 10-dma envelope
  • RES 2: 0.8557 50-day EMA
  • RES 1: 0.8543 20-day EMA
  • PRICE: 0.8502 @ 06:26 BST May 30
  • SUP 1: 0.8484 Low May 29
  • SUP 2: 0.8454 76.4% of the Mar 7 - Sep 26 ‘23 bull phase
  • SUP 3: 0.8408 Low Aug 24 2023
  • SUP 4: 0.8388 Low Aug 17 2022

EURGBP traded lower Wednesday before finding support and recovering from 0.8484, the day low. A bearish theme remains in play and key supports have recently been pierced; the 0.8500 pivot level, and an important support zone between 0.8498, the Feb 14 low, and 0.8493, the Aug 23 ‘23 low. A clear break of these price points would strengthen a bearish theme. Initial firm resistance is 0.8543, the 20-day EMA.