Free Trial

Trend Signals Remain Bearish

EURGBP TECHS
  • RES 4: 0.8624/58 High Oct 1 / High Sep 29
  • RES 3: 0.8525 50-day EMA
  • RES 2: 0.8518 High Oct 12 and a firm resistance
  • RES 1: 0.8491 20-day EMA
  • PRICE: 0.8426 @ 06:26 BST Oct 22
  • SUP 1: 0.8421 Intraday low
  • SUP 2: 0.8379 1.0% 10-dma envelope
  • SUP 3: 0.8356 Low Feb 26, 2020
  • SUP 4: 0.8339 Low Feb 25, 2020

The EURGBP outlook is unchanged and remains bearish - corrections are shallow and this reinforces current bearish sentiment conditions. Furthermore, moving average conditions remain in a bear mode, reinforcing current trend conditions. 0.8450, Oct 10 low and a key support has been cleared. This opens 0.8379 next, a vol based support. Further out, there is scope for an extension below 0.8400 to open 0.8356, the Feb 26, 2020 low. Initial firm resistance is 0.8518.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.