EURGBP rallied again Friday and is holding on to this week’s gains. The cross has now topped 0.8679, the Jul 1 high. Clearance here strengthens bullish conditions and exposes the key resistance at 0.8721, the Jun 15 high and an important bull trigger. A break of 0.8721 would confirm a resumption of the bull cycle that started early March. On the downside, initial firm support is seen at 0.8567, the Sep 6 low.
Find more articles and bullets on these widgets:
EURGBP is consolidating and holding on to its latest gains following the bounce from 0.8340, Aug 2 low. The outlook is bearish and gains are considered corrective. Recent weakness has reinforced a bearish theme and established a price sequence of lower lows and lower highs. Moving average studies are in bear mode too. A continuation lower would open 0.8313, Apr 22 low. Initial firm resistance is 0.8477, the 50-day EMA.
Primary elections in four states are underway - Connecticut, Minnesota, Vermont, and Wisconsin.