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MNI: US HOUSE FINANCIAL SERVICES ANNOUNCES HEARING ON SVB, SIG

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Pullback Considered Corrective

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Corrective Bounce

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Trading Closer To Its Recent Highs

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: 0.8877 High Dec 30
  • PRICE: 0.8801 @ 16:02 GMT Jan 4
  • SUP 1: 0.8784/61 Low Dec 23 & Jan 3 / 20-day EMA
  • SUP 2: 0.8713 50-day EMA
  • SUP 3: 0.8646 High Dec 8
  • SUP 4: 0.8593 Low Dec 15

EURGBP is holding on to the bulk of its recent gains. The outlook remains bullish and last month's break of 0.8829, the Nov 9 high, reinforced this theme. This paves the way for a move towards 0.8907, a Fibonacci retracement point. Moving average studies have crossed to highlight a bullish backdrop, reinforcing the current trend direction. On the downside, initial firm support is seen at 0.8713, the 50-day EMA. A break would be bearish.

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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: 0.8877 High Dec 30
  • PRICE: 0.8801 @ 16:02 GMT Jan 4
  • SUP 1: 0.8784/61 Low Dec 23 & Jan 3 / 20-day EMA
  • SUP 2: 0.8713 50-day EMA
  • SUP 3: 0.8646 High Dec 8
  • SUP 4: 0.8593 Low Dec 15

EURGBP is holding on to the bulk of its recent gains. The outlook remains bullish and last month's break of 0.8829, the Nov 9 high, reinforced this theme. This paves the way for a move towards 0.8907, a Fibonacci retracement point. Moving average studies have crossed to highlight a bullish backdrop, reinforcing the current trend direction. On the downside, initial firm support is seen at 0.8713, the 50-day EMA. A break would be bearish.