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EURGBP TECHS: Pivot Resistance Stays Intact For Now

EURGBP TECHS
Foreign Exchange Technical AnalysisCEEMEABulletUKMarketsForeign Exchange Bullets
  • RES 4: 0.8474 High Jan 20 and a key resistance    
  • RES 3: 0.8420 76.4% retracement of the Jan 20 - Feb 3 bear leg  
  • RES 2: 0.8388 61.8% retracement of the Jan 20 - Feb 3 bear leg  
  • RES 1: 0.8347/78 50-day EMA / High Jan 6 and pivot resistance   
  • PRICE: 0.8277 @ 15:45 GMT Feb 21
  • SUP 1: 0.8266/8248 Low Feb 19 / 3 and bear trigger
  • SUP 2: 0.8223 Low Dec 19 and a key support  
  • SUP 3: 0.8203 Low Mar 7 ‘22 and a lowest point of a multi-year range   
  • SUP 4: 0.8163 123.6% retracement of the Dec 19 - Jan 20 bull leg 

EURGBP trades rangebound early Friday. The early February bounce still appears to have undermined a recent bearish threat. Attention is on 0.8378, the Jan 6 high and a key short-term pivot resistance. Clearance of it would strengthen a bullish condition and signal scope for a stronger recovery. For bears, a resumption of weakness would once again refocus attention on 0.8248, the Feb 3 low and the bear trigger.    

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  • RES 4: 0.8474 High Jan 20 and a key resistance    
  • RES 3: 0.8420 76.4% retracement of the Jan 20 - Feb 3 bear leg  
  • RES 2: 0.8388 61.8% retracement of the Jan 20 - Feb 3 bear leg  
  • RES 1: 0.8347/78 50-day EMA / High Jan 6 and pivot resistance   
  • PRICE: 0.8277 @ 15:45 GMT Feb 21
  • SUP 1: 0.8266/8248 Low Feb 19 / 3 and bear trigger
  • SUP 2: 0.8223 Low Dec 19 and a key support  
  • SUP 3: 0.8203 Low Mar 7 ‘22 and a lowest point of a multi-year range   
  • SUP 4: 0.8163 123.6% retracement of the Dec 19 - Jan 20 bull leg 

EURGBP trades rangebound early Friday. The early February bounce still appears to have undermined a recent bearish threat. Attention is on 0.8378, the Jan 6 high and a key short-term pivot resistance. Clearance of it would strengthen a bullish condition and signal scope for a stronger recovery. For bears, a resumption of weakness would once again refocus attention on 0.8248, the Feb 3 low and the bear trigger.