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Remains Above Support

EURGBP TECHS
  • RES 4: 0.9501 High Mar 19 2020 and major resistance
  • RES 3: 0.9388 High Mar 23 2020
  • RES 2: 0.9292 High Sep 11 2020
  • RES 1: 0.9108/9266 61.8% of Monday’s range / High Sep 26
  • PRICE: 0.8973 @ 06:43 BST Sep 29
  • SUP 1: 0.8853 Low Sep 26
  • SUP 2: 0.8788 High Sep 19
  • SUP 3: 0.8692 Low Sep 22 and a key short-term support
  • SUP 4: 0.8636 50-day EMA

EURGBP remains below Monday’s high of 0.9266 - a key short-term resistance. The rally Monday reinforced bullish conditions and has maintained the positive price sequence of higher highs and higher lows. This has exposed the top of a broad multi-year range at the 0.9300 handle and a key medium-term resistance area. Short-term weakness is considered corrective - for now. 0.8692 marks a key short-term support.

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