© 1982-2022 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial
USDCAD TECHS

Bearish Threat Remains Present

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Topics

Pullback Still Considered Corrective

EURGBP TECHS
Foreign Exchange Technical Analysismarkets-real-timeBulletMarketsForeign Exchange
  • RES 4: 0.8658 High Sep 29 2021
  • RES 3: 0.8643 High Sep 30 2021
  • RES 2: 0.8619 High May 12 and bull trigger
  • RES 1: 0.8592 High Jun 9
  • PRICE: 0.8505 @ 06:30 BST Jun 10
  • SUP 1: 0.8467/8433 50-day EMA / Low May 23
  • SUP 2: 0.8393/ 0.8391 Low May 17 / 61.8% of Apr 14 - May 12 upleg
  • SUP 3: 0.8367 Low May 2
  • SUP 4: 0.8337 76.4% retracement of the Apr 14 - May 12 upleg

EURGBP traded in a volatile manner Thursday, revisiting the week’s lows of 0.8492. Pullbacks are still considered corrective. The recovery since May 17, highlights a bullish theme and signals scope for a climb to 0.8619, May 12 high and a key hurdle for bulls. Moving average studies are in a bull mode. A break of 0.8619 would resume the uptrend that started Mar 7. Key short-term support is unchanged at 0.8393, May 17 low. A break would be bearish.

157 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • RES 4: 0.8658 High Sep 29 2021
  • RES 3: 0.8643 High Sep 30 2021
  • RES 2: 0.8619 High May 12 and bull trigger
  • RES 1: 0.8592 High Jun 9
  • PRICE: 0.8505 @ 06:30 BST Jun 10
  • SUP 1: 0.8467/8433 50-day EMA / Low May 23
  • SUP 2: 0.8393/ 0.8391 Low May 17 / 61.8% of Apr 14 - May 12 upleg
  • SUP 3: 0.8367 Low May 2
  • SUP 4: 0.8337 76.4% retracement of the Apr 14 - May 12 upleg

EURGBP traded in a volatile manner Thursday, revisiting the week’s lows of 0.8492. Pullbacks are still considered corrective. The recovery since May 17, highlights a bullish theme and signals scope for a climb to 0.8619, May 12 high and a key hurdle for bulls. Moving average studies are in a bull mode. A break of 0.8619 would resume the uptrend that started Mar 7. Key short-term support is unchanged at 0.8393, May 17 low. A break would be bearish.