EURGBP TECHS: Approaching Key Resistance
- RES 4: 0.8800 Round number resistance
- RES 3: 0.8781 2.236 pro of the Mar 3 - 11 - 28 price swing
- RES 2: 0.8738 High Apr 11 high and a key resistance
- RES 1: 0.8733 Intraday high
- PRICE: 0.8722 @ 14:58 BST Jul 25
- SUP 1: 0.8637 20- day EMA
- SUP 2: 0.8597 Low Jul 7
- SUP 3: 0.8570 50-day EMA
- SUP 4: 0.8540 Low Jun 30
The trend set-up in EURGBP is unchanged, it remains bullish and this week’s climb reinforces this theme. A bullish price sequence of higher highs and higher lows is intact and note too that moving average studies are in a bull-mode position, highlighting a dominant uptrend. The extension higher paves the way for a climb towards key resistance at 0.8738, the Apr 11 high. Support to watch is 0.8637, the 20-day EMA.
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