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Probes A Key Resistance

EURGBP TECHS
  • RES 4: 0.8498 High Dec 23
  • RES 3: 0.8478 High Feb 7 and a bull trigger
  • RES 2: 0.8432 High Feb 11
  • RES 1: 0.8418 Mar 9 High
  • PRICE: 0.8389 @ 06:50 GMT Mar 10
  • SUP 1: 0.8317 Low Mar 9
  • SUP 2: 0.8278 Low Mar 7
  • SUP 3: 0.8203 Low MAr 7 and the bear trigger
  • SUP 4: 0.8131 Low Jun 27, 2016

EURGBP traded higher into the Wednesday close and traded above the key resistance at the Feb 25 high of 0.8406. This week's strength completes a 100% retracement of the most recent downleg between Feb 25 - Mar 7 and strengthens short-term bullish conditions. The move higher opens gains toward next resistance at the early February highs of 0.8432/78. Initial support is seen at Wednesday's 0.8317 low.

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