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- RES 4: 0.8731 High Feb 26
- RES 3: 0.8701/21 High May 7 / High Apr 26 and the bull trigger
- RES 2: 0.8646/72 High Jun 1 / High May 25
- RES 1: 0.8602/29 High Jun 21 / High Jun 15
- PRICE: 0.8543 @ 06:05 BST Jun 24
- SUP 1: 0.8530/31 Low June 23 / 76.4% of the Apr 5 - 26 rally
- SUP 2: 0.8489 1.0% 10-dma envelope
- SUP 3: 0.8472 Low Apr 5 and the bear trigger
- SUP 4: 0.8403 2.0% 10-dma envelope
The EURGBP outlook remains bearish and the cross traded lower yesterday. Support at 0.8561, May 12 low was breached last week. This signals the end of the recent consolidation and strengthens a bearish case. The focus is on 0.8531, 76.4% of the Apr 5 - 26 rally that has been tested. A break would expose key support at 0.8472, Apr 5 low. Initial firm resistance has been defined at 0.8602, Jun 21 high where a break would ease the bearish threat.