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Trend Needle Points South

EURGBP TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 0.8875 High Apr 25 and key short-term resistance
  • RES 3: 0.8835 High May 3
  • RES 2: 0.8777 50-day EMA
  • RES 1: 0.8744 20-day EMA
  • PRICE: 0.8686 @ 06:05 BST May 18
  • SUP 1: 0.8661 Low May 11
  • SUP 2: 0.8649 76.4% retracement of the Dec 1 - Feb 3 bull run
  • SUP 3: 0.8593 Low Dec 15 2022
  • SUP 4: 0.8562 Low Dec 13 2022

EURGBP is consolidating and remains closer to its recent lows. The trend condition is bearish. The break of 0.8719, the Mar 15 low, confirmed a resumption of the bear cycle that began Feb 3 and this has opened 0.8649, a Fibonacci retracement. On the upside, Initial firm resistance is at 0.8744, the 20-day EMA. The 50-day EMA intersects at 0.8777 where a clear break is required to signal a potential reversal.

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  • RES 4: 0.8875 High Apr 25 and key short-term resistance
  • RES 3: 0.8835 High May 3
  • RES 2: 0.8777 50-day EMA
  • RES 1: 0.8744 20-day EMA
  • PRICE: 0.8686 @ 06:05 BST May 18
  • SUP 1: 0.8661 Low May 11
  • SUP 2: 0.8649 76.4% retracement of the Dec 1 - Feb 3 bull run
  • SUP 3: 0.8593 Low Dec 15 2022
  • SUP 4: 0.8562 Low Dec 13 2022

EURGBP is consolidating and remains closer to its recent lows. The trend condition is bearish. The break of 0.8719, the Mar 15 low, confirmed a resumption of the bear cycle that began Feb 3 and this has opened 0.8649, a Fibonacci retracement. On the upside, Initial firm resistance is at 0.8744, the 20-day EMA. The 50-day EMA intersects at 0.8777 where a clear break is required to signal a potential reversal.