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  • RES 4: 0.8624/58 High Oct 1 / High Sep 29
  • RES 3: 0.8522 50-day EMA
  • RES 2: 0.8518 High Oct 12 and a firm resistance
  • RES 1: 0.8488 20-day EMA
  • PRICE: 0.8435 @ 16:13 BST Oct 25
  • SUP 1: 0.8422 Low Oct 21/22
  • SUP 2: 0.8375 1.0% 10-dma envelope
  • SUP 3: 0.8356 Low Feb 26, 2020
  • SUP 4: 0.8339 Low Feb 25, 2020

EURGBP is trading above recent lows but remains bearish. Corrections have been shallow and this reinforces current bearish sentiment. Furthermore, moving average conditions remain in a bear mode, highlighting a downtrend. 0.8450, Oct 10 low and a key support has recently been cleared. This opens 0.8375 next, a vol based support. There is also scope for an extension below 0.8400 to open 0.8356, Feb 26, 2020 low. Initial firm resistance is 0.8518.