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Reverses Recent Recovery

  • RES 4: 0.9097 76.4% Retracement of the Sep 26 - Dec 1 bear leg
  • RES 3: 0.9047 2.0% 10-dma envelope
  • RES 2: 0.8992 61.8% Retracement of the Sep 26 - Dec 1 bear leg
  • RES 1: 0.8979 High Feb 3 and the bull trigger
  • PRICE: 0.8802 @ 15:52 GMT Feb 21
  • SUP 1: 0.8792 Low Feb 21
  • SUP 2: 0.8770 1.0% 10-dma envelope
  • SUP 3: 0.8762 Low Jan 30
  • SUP 4: 0.8722 Low Jan 19 and a reversal trigger

EURGBP reversed lower into the Tuesday close, harming the recent bullish outlook. The intraday break below 0.8804 is bearish, and a close below here opens further weakness. 0.8770 vol band support could provide initial support ahead of 0.8762. Nonetheless, moving average studies remain in a bull-mode position, highlighting an underlying uptrend.

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