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Vertical Rally

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


  • RES 4: 0.8715 High Dec 28
  • RES 3: 0.8677 76.4% retracement of the Nov 20 ‘23 - Jul 17 bear leg
  • RES 2: 0.8645 High Apr 23 and a key resistance
  • RES 1: 0.8620 High Aug 5
  • PRICE: 08587 @ 06:29 BST Aug 7
  • SUP 1: 0.8517/0.8499 Low Aug 5 / High Jul 1
  • SUP 2: 0.8471 50-day EMA
  • SUP 3: 0.8453 20-day EMA
  • SUP 4: 0.8418 Low Aug 1

EURGBP traded higher last week and the cross maintains a firmer tone with Monday’s strong gains also reinforcing bullish conditions. The latest rally has resulted in the break of a number of key resistance points. This cancels the recent bearish theme and highlights potential for 0.8645, the Apr 23 high and a key resistance. Initial firm support to watch lies at 0.8471, the 50-day EMA. First support lies at 0.8517, the Aug 5 low.

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  • RES 4: 0.8715 High Dec 28
  • RES 3: 0.8677 76.4% retracement of the Nov 20 ‘23 - Jul 17 bear leg
  • RES 2: 0.8645 High Apr 23 and a key resistance
  • RES 1: 0.8620 High Aug 5
  • PRICE: 08587 @ 06:29 BST Aug 7
  • SUP 1: 0.8517/0.8499 Low Aug 5 / High Jul 1
  • SUP 2: 0.8471 50-day EMA
  • SUP 3: 0.8453 20-day EMA
  • SUP 4: 0.8418 Low Aug 1

EURGBP traded higher last week and the cross maintains a firmer tone with Monday’s strong gains also reinforcing bullish conditions. The latest rally has resulted in the break of a number of key resistance points. This cancels the recent bearish theme and highlights potential for 0.8645, the Apr 23 high and a key resistance. Initial firm support to watch lies at 0.8471, the 50-day EMA. First support lies at 0.8517, the Aug 5 low.