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Outlook Remains Bullish

EURGBP TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 0.9066 High Sep 28
  • RES 3: 0.8992 61.8% retracement of the Sep 26 - Dec 1bear leg
  • RES 2: 0.8979 High Feb 3 and the bull trigger
  • RES 1: 0.8929 High Feb 17
  • PRICE: 0.8836 @ 16:11 GMT Mar 10
  • SUP 1: 0.8821 Low Mar 10
  • SUP 2: 0.8755 Low Feb 28 and key support and 100-dma
  • SUP 3: 0.8722 Low Jan 19 and a key support
  • SUP 4: 0.8712 61.8% retracement of the Dec 1 - Feb 3 bull leg

EURGBP short-term conditions remain bullish despite the pullback from its recent highs. The cross has this week cleared resistance at a trendline drawn from the early February highs - the line intersects at 0.8854 today. A resumption of gains would open 0.8929, Feb 17 high. Note that moving average studies are in a bull mode position, highlighting a bull trend. On the downside, a break of 0.8755, Feb 28 low would reinstate a bearish threat.

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  • RES 4: 0.9066 High Sep 28
  • RES 3: 0.8992 61.8% retracement of the Sep 26 - Dec 1bear leg
  • RES 2: 0.8979 High Feb 3 and the bull trigger
  • RES 1: 0.8929 High Feb 17
  • PRICE: 0.8836 @ 16:11 GMT Mar 10
  • SUP 1: 0.8821 Low Mar 10
  • SUP 2: 0.8755 Low Feb 28 and key support and 100-dma
  • SUP 3: 0.8722 Low Jan 19 and a key support
  • SUP 4: 0.8712 61.8% retracement of the Dec 1 - Feb 3 bull leg

EURGBP short-term conditions remain bullish despite the pullback from its recent highs. The cross has this week cleared resistance at a trendline drawn from the early February highs - the line intersects at 0.8854 today. A resumption of gains would open 0.8929, Feb 17 high. Note that moving average studies are in a bull mode position, highlighting a bull trend. On the downside, a break of 0.8755, Feb 28 low would reinstate a bearish threat.