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RATINGS

Greece & Portugal Receive Upgrades

USDJPY TECHS

Support Still Intact

EURGBP TECHS

Consolidating

UK

Timeline of key events (Times BST)

Trades Through Support

EURO-STERLING TECHS
  • RES 4: 0.9176 High Jun 29 and the key bull trigger
  • RES 3: 0.9148 High Jul 27
  • RES 2: 0.9087 High Jul 29
  • RES 1: 0.9070 High Aug 17 and key near-term resistance
  • PRICE: 0.8985 @ 17:21 BST Aug 21
  • SUP 1: 0.8944 Low Aug 21
  • SUP 2: 0.8938 Low Jul 10 and a key support
  • SUP 3: 0.8933 100-dma
  • SUP 4: 0.8864 Low Jun 9

EURGBP maintained a softer tone Friday before finding support at 0.8944. Early last week, the cross probed resistance at 0.9059, Aug 5 high. A clear break however failed to materialise. This would have signalled potential for gains towards 0.9148, Jul 27 high initially. Instead, 0.8970, Aug 11 low was breached Friday exposing 0.8938, Jul 10 low. A break here would open 0.8912, Jun 16 low. 0.9070 is a firm near-term resistance, Aug 17 high.

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