Short-Term Support Remains Exposed

• RES 4: 0.8925 High Mar 7 and a key resistance
• RES 3: 0.8918 76.4% retracement of the Feb 3 - Mar 15 bear leg
• RES 2: 0.8866/71 High Mar 23 / Trendline drawn from the Feb 3 high
• RES 1: 0.8788/0.8829 High Apr 4 / High Mar 30
• PRICE: 0.8753 @ 20:05 BST Apr 5
• SUP 1: 0.8729 Low Apr 4
• SUP 2: 0.8719 Low Mar 15 and key support
• SUP 3: 0.8712 61.8% retracement of the Dec 1 - Feb 3 bull leg
• SUP 4: 0.8691 Low Dec 19

EURGBP maintains a softer tone following this week’s move lower. The move down refocuses attention on support at 0.8719, the Mar 15 low. A break of this level would cancel a recent bullish theme and signal scope for a deeper pullback, exposing 0.8691, the Dec 19 low. On the upside, initial firm resistance to watch is at 0.8829, the Mar 30 high where a break is required to reinstate any developing bearish threat.