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BLOCK, Jun'23 SOFR/Eurodlr Call Spd

EURGBP TECHS

Bullish Outlook

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Outlook Remains Bullish

EURGBP TECHS
  • RES 4: 0.9066/9266 High Sep 28 / High Sep 26 and key resistance
  • RES 3: 0.8980 High Sep 29
  • RES 2: 0.8867 High Oct 12
  • RES 1: 0.8829 High Nov 09 and the bull trigger
  • PRICE: 0.8685 @ 15:56 GMT Nov 18
  • SUP 1: 0.8682 Low Nov 18
  • SUP 2: 0.8560/59 Low Oct 31 / 76.4% of Aug 2 - Sep 26 rally
  • SUP 3: 0.8522 Low Aug 30
  • SUP 4: 0.8471 Low Aug 28

EURGBP edged lower into the Friday close, breaking out of the recent tight range. This extends the pullback despite the recent false break of 0.8781, the Oct 21 high. For bears, a move through the Oct 31 low of 0.8560 is required to resume bearish activity. Moving average studies remain in bull mode position and this suggests that the broader uptrend remains intact.

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  • RES 4: 0.9066/9266 High Sep 28 / High Sep 26 and key resistance
  • RES 3: 0.8980 High Sep 29
  • RES 2: 0.8867 High Oct 12
  • RES 1: 0.8829 High Nov 09 and the bull trigger
  • PRICE: 0.8685 @ 15:56 GMT Nov 18
  • SUP 1: 0.8682 Low Nov 18
  • SUP 2: 0.8560/59 Low Oct 31 / 76.4% of Aug 2 - Sep 26 rally
  • SUP 3: 0.8522 Low Aug 30
  • SUP 4: 0.8471 Low Aug 28

EURGBP edged lower into the Friday close, breaking out of the recent tight range. This extends the pullback despite the recent false break of 0.8781, the Oct 21 high. For bears, a move through the Oct 31 low of 0.8560 is required to resume bearish activity. Moving average studies remain in bull mode position and this suggests that the broader uptrend remains intact.