Free Trial

Rallying

EURGBP TECHS
  • RES 4: 0.9292 High Sep 11 and major resistance
  • RES 3: 0.9265 High Sep 14
  • RES 2: 0.9230/49 High Dec 11 / 2.0% 10-dma envelope
  • RES 1: 0.9218 High Dec 21
  • PRICE: 0.9173 @ 15:55 GMT Dec 21
  • SUP 1: 0.9073 Low Dec 21
  • SUP 2: 0.9034 20-day EMA
  • SUP 3: 0.8983 Low Dec 4 / 17 and key support
  • SUP 4: 0.8977/52 1.0% 10-dma env / 76.4% of Nov 23 - Dec 11 rally

EURGBP remains volatile and with Sterling under pressure Monday, the cross has rallied. Attention turns to key resistance at 0.9230, Dec 11 high where a break would reinforce underlying bullish conditions and open 0.9292, the Sep 11 high. The cross is likely to remain volatile, initial support although far-off lies at Monday's intraday low of 0.9073. The key pivot support remains 0.8983, Dec 4 / 17 low. A break would be bearish.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.