FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Resumes Its Downtrend

EURGBP TECHS
  • RES 4: 0.8480 61.8% retracement of the Dec 8 - Feb 3 downleg
  • RES 3: 0.8432/78 High Feb 11 / High Feb 7
  • RES 2: 0.8406 High Feb 25 and key resistance
  • RES 1: 0.8360 20-day EMA
  • PRICE: 0.8277 @ 06:24 GMT Mar 3
  • SUP 1: 0.8242 50% Fibonacci Retracement 2015-2020 Upleg
  • SUP 2: 0.8238 0.764 proj of the Dec 8 - Feb 3 - 7 Price swing
  • SUP 3: 0.8193 1.236 proj of the Feb 7 - 24 - 25 price swing
  • SUP 4: 0.8169 1.382 proj of the Feb 7 - 24 - 25 price swing

EURGBP has resumed its downtrend. The contract traded lower Monday and is weaker again today. It has breached support at 0.8285, Feb 3 low and this has resulted in a test of a key support at 0.8282/77, the Feb ’20 and Dec’19 lows and a key bear trigger. Note that prices below 0.8300 highlight a potential break of the base of a multi-year range - a key bearish development if confirmed. Key short-term resistance is at 0.8406, the Feb 25 high.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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.