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Trades Through Key Short-Term Support

EURGBP TECHS
  • RES 4: 0.8627 High Jul 4
  • RES 3: 0.8585 High Jul 21 and a key resistance
  • RES 2: 0.8506 50-day EMA
  • RES 1: 0.8426 High Jul 27
  • PRICE: 0.8392 @ 06:39 BST Jul 28
  • SUP 1: 0.8376 Low Jul 27
  • SUP 2: 0.8367 Low May 2
  • SUP 3: 0.8313 Low Apr 22
  • SUP 4: 0.8250 Low Apr 14 and a key support

A sharp drop in EURGBP Tuesday reinforced bearish conditions and yesterday’s move through support at 0.8393, the May 17 low, strengthens the current bearish threat. The move lower clears the way or weakness towards 0.8367, May 2 low. Last week’s high of 0.8585 (Jul 21) has been defined as a key short-term resistance where a break is required to reinstate a bullish theme.

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  • RES 4: 0.8627 High Jul 4
  • RES 3: 0.8585 High Jul 21 and a key resistance
  • RES 2: 0.8506 50-day EMA
  • RES 1: 0.8426 High Jul 27
  • PRICE: 0.8392 @ 06:39 BST Jul 28
  • SUP 1: 0.8376 Low Jul 27
  • SUP 2: 0.8367 Low May 2
  • SUP 3: 0.8313 Low Apr 22
  • SUP 4: 0.8250 Low Apr 14 and a key support

A sharp drop in EURGBP Tuesday reinforced bearish conditions and yesterday’s move through support at 0.8393, the May 17 low, strengthens the current bearish threat. The move lower clears the way or weakness towards 0.8367, May 2 low. Last week’s high of 0.8585 (Jul 21) has been defined as a key short-term resistance where a break is required to reinstate a bullish theme.