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Trend Needle Points North

EURGBP TECHS
  • RES 4: 0.9007 2.0% 10-dma envelope
  • RES 3: 0.8918 76.4% retracement of the Feb 3 - Mar 15 bear leg
  • RES 2: 0.8880 61.8 retracement of the Feb 3 - Mar 15 bear leg
  • RES 1: 0.8875 High Apr 25
  • PRICE: 0.8836 @ 15:34 BST Apr 27
  • SUP 1: 0.8820/8792 20-day EMA / Low Apr 19
  • SUP 2: 0.8763 Low Apr 11
  • SUP 3: 0.8729 Low Apr 4
  • SUP 4: 0.8719 Low Mar 15 and key support

A bull cycle in EURGBP remains in play despite Thursday’s pullback, with the cross trading closer to its latest highs. Recent price action has seen the cross clear trendline resistance that intersects at 0.8834 - drawn from the Feb 3 high. 0.8866, the Mar 23 high, has also been pierced - on Apr 17. A clear break of the trendline and 0.8866 would strengthen bullish conditions and open 0.8880, a Fibonacci retracement. Key short-term support lies at 0.8792, the Apr 19 low.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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