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Strong Rally

EURGBP TECHS
  • RES 4: 0.8624 High Oct 1 2021
  • RES 3: 0.8600 High Dec 8 2021
  • RES 2: 0.8552/53 2.0% 10-dma envelope / High Dec 14 2020
  • RES 1: 0.8546 High May 5
  • PRICE: 0.8512 @ 17:09 BST May 5
  • SUP 1: 0.8468 High Apr 27 and a recent breakout level
  • SUP 2: 0.8373/67 50-day EMA / Low May 2
  • SUP 3: 0.8313 Low Apr 22
  • SUP 4: 0.8250 Low Apr 14 and a key support

The EURGBP outlook remains bullish and the cross traded higher Thursday, resulting in a breach of resistance at 0.8468, the Apr 27 high, and 0.8512, the Mar 31 high and a bull trigger. This reinforces bullish conditions and signals scope for a climb towards the 0.8600 handle next. On the downside, key short-term support has been defined at 0.8367, the May 2 low. Initial support is seen at 0.8468.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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