Free Trial

Recovers Off Recent Lows

EURGBP TECHS
  • RES 4: 0.9217/30 High Dec 21/11 and key resistance
  • RES 3: 0.9156 High Dec 22
  • RES 2: 0.9093 High Dec 29
  • RES 1: 0.9049 High Jan 4
  • PRICE: 0.9023 @ 06:17 GMT Jan 5
  • SUP 1: 0.8932 Low Dec 31
  • SUP 2: 0.8915 Low Nov 27
  • SUP 3: 0.8867 Low Nov 23 and a key support
  • SUP 4: 0.8861 Low Nov 11

EURGBP maintains a bearish outlook despite Monday's recovery The cross recently cleared a key support at 0.8983, Dec 4 / 7 low. The break highlights a bearish chart feature and the risk of a deeper sell-off. The move lower Dec 31 paves the way for a weakness towards 0.8867, Nov 23 low. On the upside initial firm resistance is 0.9093, Dec 29 high and 0.9156, Dec 22 high. Clearance of these hurdles would expose the key 0.9230 Dec high.

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.