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Sharply Higher And Clears Resistance

EURGBP TECHS
  • RES 4: 0.9192 High Sep 11 and major resistance
  • RES 3: 0.9289 4.0% Upper Bollinger Band
  • RES 2: 0.9265 High Sep 14
  • RES 1: 0.9230 High Dec 11 / 2.0% 10-dma envelope
  • PRICE: 0.9161 @ 16:31 GMT Dec 11
  • SUP 1: 0.9115 Low Dec 11
  • SUP 2: 0.9008 Low Dec 10
  • SUP 3: 0.8983/84 Low Dec 4 / 9
  • SUP 4: 0.8947 Former trendline resistance drawn off the Sep 11 high

EURGBP has rallied sharply higher early Friday clearing resistance at 0.9142, high Dec 7. The cross has also tested 0.9190, 76.4% retracement of the Sep 11 - Nov 11 downleg and attention turns to resistance at 0.9220, Sep 22 high. Clearance of this hurdle would set the scene for a climb towards major resistance at 0.9292, High Sep 11. On the downside, initial support is Friday's low of 0.9115.

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