MNI: PBOC Net Drains CNY291.3 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Tues; -2.11% Y/Y

MNI China Daily Summary: Monday, December 23

MNI: China Steel Demand Seen Falling Next Year

MNI: China CFETS Yuan Index Up 0.83% In Week of Dec 20

MNI: PBOC Net Drains CNY643.5 Bln via OMO Monday

EZ/UK T-Bill Calendar: Greece to Sell Bills New Year's Eve

EZ/UK Bond Supply Calendar: BOE APF Sales Due 6 January

MNI: CANADA NOV INDUSTRIAL PRICES +0.6% MOM; EX-ENERGY +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EURGBP TECHS: Support Remains Intact For Now

EURGBP TECHS
Foreign Exchange Technical AnalysisCEEMEABulletUKMarketsForeign Exchange Bullets
  • RES 4: 0.8464 High Sep 11 and a key resistance
  • RES 3: 0.8448 High Oct 31 and reversal trigger 
  • RES 2: 0.8404 76.4% retracement of the Oct 31 - Nov 11 bear leg
  • RES 1: 0.8346/76 50-day EMA / High Nov 19 and a bull trigger 
  • PRICE: 0.8291 @ 06:41 GMT Dec 6  
  • SUP 1: 0.8260 Low Nov 11 and the bear trigger 
  • SUP 2: 0.8250 Low Apr 14 ‘22
  • SUP 3: 0.8203 Low Mar 7 2022 and a major support
  • SUP 4: 0.8200 Round number support  

Key short-term support in EURGBP remains intact for now. Attention is on the bullish engulfing candle pattern on Nov 12, that highlights a possible reversal.  0.8260, the Nov 11 low, marks the key short-term support. A break of this level would cancel the candle pattern and confirm a resumption of the downtrend. This would open 0.8203, the Mar 7 ‘22 low and major support. Key short-term resistance and a bull trigger is 0.8376, the Nov 19 high.       

160 words

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.
  • RES 4: 0.8464 High Sep 11 and a key resistance
  • RES 3: 0.8448 High Oct 31 and reversal trigger 
  • RES 2: 0.8404 76.4% retracement of the Oct 31 - Nov 11 bear leg
  • RES 1: 0.8346/76 50-day EMA / High Nov 19 and a bull trigger 
  • PRICE: 0.8291 @ 06:41 GMT Dec 6  
  • SUP 1: 0.8260 Low Nov 11 and the bear trigger 
  • SUP 2: 0.8250 Low Apr 14 ‘22
  • SUP 3: 0.8203 Low Mar 7 2022 and a major support
  • SUP 4: 0.8200 Round number support  

Key short-term support in EURGBP remains intact for now. Attention is on the bullish engulfing candle pattern on Nov 12, that highlights a possible reversal.  0.8260, the Nov 11 low, marks the key short-term support. A break of this level would cancel the candle pattern and confirm a resumption of the downtrend. This would open 0.8203, the Mar 7 ‘22 low and major support. Key short-term resistance and a bull trigger is 0.8376, the Nov 19 high.