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BTP TECHS

(M3) Bull Cycle Remains In Play

UK DATA

Labour market data due at 7:00GMT

EUROZONE ISSUANCE

EGB Supply - W/C March 13, 2023

EURGBP TECHS

Pullback Extends

EUROZONE T-BILL ISSUANCE

W/C Mar 13, 2023

US TSYS

Spike higher largely reversed

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Trades Through The 50-Day EMA

EURGBP TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 0.8992 61.8% Retracement of the Sep 26 - Dec 1 bear leg
  • RES 3: 0.8980 High Sep 29
  • RES 2: 0.8907 50.0% retracement of the Sep 26 - Dec 1 bear leg
  • RES 1: 0.8804/97 High Jan 18 / 13 and the bull trigger
  • PRICE: 0.8753 @ 06:36 GMT Jan 19
  • SUP 1: 0.8735 Low Jan 18
  • SUP 2: 0.8691 Low Dec 19
  • SUP 3: 0.8630 76.4% retracement of the Dec 1 - Jan 13 bull cycle
  • SUP 4: 0.8593 Low Dec 15

EURGBP traded lower Wednesday, extending Tuesday’s bearish session and the cross remains weaker. Price has traded below the 50-day EMA, at 0.8755. This represents a key short-term support and a clear break of it would undermine the recent bull phase and signal scope for a deeper retracement. This would open 0.8691 initially, the Dec 19 low. On the upside, key short-term resistance has been defined at 0.8897, the Jan 13 high.

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  • RES 4: 0.8992 61.8% Retracement of the Sep 26 - Dec 1 bear leg
  • RES 3: 0.8980 High Sep 29
  • RES 2: 0.8907 50.0% retracement of the Sep 26 - Dec 1 bear leg
  • RES 1: 0.8804/97 High Jan 18 / 13 and the bull trigger
  • PRICE: 0.8753 @ 06:36 GMT Jan 19
  • SUP 1: 0.8735 Low Jan 18
  • SUP 2: 0.8691 Low Dec 19
  • SUP 3: 0.8630 76.4% retracement of the Dec 1 - Jan 13 bull cycle
  • SUP 4: 0.8593 Low Dec 15

EURGBP traded lower Wednesday, extending Tuesday’s bearish session and the cross remains weaker. Price has traded below the 50-day EMA, at 0.8755. This represents a key short-term support and a clear break of it would undermine the recent bull phase and signal scope for a deeper retracement. This would open 0.8691 initially, the Dec 19 low. On the upside, key short-term resistance has been defined at 0.8897, the Jan 13 high.