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Watching Resistance

EURGBP TECHS
  • RES 4: 0.8658 High Sep 29 and a key resistance
  • RES 3: 0.8624 High Oct 1
  • RES 2: 0.8600 High Dec 8
  • RES 1: 0.8553 High Dec 10 / 14
  • PRICE: 0.8534 @ 06:28 GMT Dec 21
  • SUP 1: 0.8485/54 Low Dec 20 / Low Dec 16
  • SUP 2: 0.8411 Low Nov 26
  • SUP 3: 0.8381 Low Nov 22 and the bear trigger
  • SUP 4: 0.8356 Low Feb 26, 2020

EURGBP sold off sharply Dec 16 but has rebounded from that day’s low of 0.8454. Support at 0.8486 has been cleared, Dec 15 low and this signals a potential strengthening of short-term bearish pressure. Further weakness would open 0.8411, Nov 26 low and the key support at 0.8381, Nov 22 low. The cross strengthened yesterday, initial firm resistance is at 0.8553, Dec 10 / 14 high. Clearance of this level would reinstate the recent bullish theme.

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