Free Trial

Still Trading Below Its Recent High

EURGBP TECHS
  • RES 4: 0.8627 High Jul 4
  • RES 3: 0.8585 High Jul 21 and a key resistance
  • RES 2: 0.8525 High Jul 25
  • RES 1: 0.8465/8512 50-day EMA / High Aug 19
  • PRICE: 0.8445 @ 06:26 BST Aug 25
  • SUP 1: 0.8408 Low Aug 23
  • SUP 2: 0.8388/40 Low Aug 17 / 2 and the bear trigger
  • SUP 3: 0.8313 Low Apr 22
  • SUP 4: 0.8277 2.0% 10-dma envelope and low Apr 14

EURGBP remains below last week’s highs. The high print of 0.8512 on Aug 19, is a bullish development and threatens the recent bearish outlook. The move signals scope for an extension higher. A resumption of gains would open 0.8525 and potentially 0.8585 further out, the Jul 25 and 21 highs respectively. Initial key support to watch is at 0.8388, the Aug 17 low. A break would reinstate a bearish theme.

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.