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Trend Outlook Is Bullish

EURGBP TECHS
  • RES 4: 0.8852 50.0% retracement of the Mar ‘20 - Mar ‘22 bear leg
  • RES 3: 0.8762 1.00 proj of the Apr 14 - May 12 - 17 price swing
  • RES 2: 0.8721 High May 26 2021 and Jun 15 / bull trigger
  • RES 1: 0.8641 High Jun 23
  • PRICE: 0.8619 @ 06:40 BST Jun 28
  • SUP 1: 0.8569 20-day EMA
  • SUP 2: 0.8515 50-day EMA
  • SUP 3: 0.8433 Low May 23
  • SUP 4: 0.8393 Low May 17 and a key support

EURGBP trend conditions remain bullish. Moving average studies are in a bull mode set-up and this clearly highlights positive sentiment. The recent breach of resistance at 0.8619, May 12 high, confirmed a resumption of the uptrend and the focus is on a retest of 0.8721, Jun 15 high and the bull trigger. A break would resume the uptrend. Firm support is still at the 50-day EMA - it intersects at 0.8515 today.

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