Free Trial

Remains Above The 50-Day EMA

EURGBP TECHS
  • RES 4: 0.9292 High Sep 11 2020
  • RES 3: 0.9066/9266 High Sep 28 / High Sep 26 and key resistance
  • RES 2: 0.8980 High Sep 29
  • RES 1: 0.8867 Intraday high
  • PRICE: 0.8842 @ 06:28 BST Oct 12
  • SUP 1: 0.8676/49 50-day EMA / Low Oct 4 and a key support zone
  • SUP 2: 0.8626 Low Sep 1
  • SUP 3: 0.8559 76.4% retracement of the Aug 2 - Sep 26 rally
  • SUP 4: 0.8522 Low Aug 30

EURGBP last week bounced off the 50-day EMA. The average intersects at 0.8676 today and is a key support. This level, together with 0.8649, the Oct 4 low, defines an important short-term support zone where a break is required to reinstate recent bearish price action. The cross has traded higher this week and attention is on resistance 0.8980, the Sep 29 high. Key resistance and a bull trigger is still far off at 0.9266, the Sep 26 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.