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Resend - Extends Weakness Below 0.8700

EURGBP TECHS
  • RES 4: 0.8840 High Feb 4
  • RES 3: 0.8797 High Feb 9
  • RES 2: 0.8739 Low Feb 5
  • RES 1: 0.8700 Intraday high
  • PRICE: 0.8659 @ 13:11 GMT Feb 18
  • SUP 1: 0.8648/46 Intraday low / Low Mar 3, 2020
  • SUP 2: 0.8621 Low Mar 5, 2020
  • SUP 3: 0.8595 Low Mar 2, 2020
  • SUP 4: 0.8570 76.4% Feb-Mar 2020 Rally

EURGBP has traded lower again today as the current bearish cycle extends. The clear break of the 0.8700 handle sets the scene for a move lower towards 0.8600 next and the 0.8570 Fibonacci retracement, 76.4% of the Feb - Mar 2020 rally. Today's key technical break has been the move below 0.8671, the Apr 30 2020 low. This reinforces current trend conditions. Initial resistance is at today's intraday high of 0.8700.

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