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EURGBP TECHS: Rally Extends
- RES 4: 0.8840 High Nov 20 ‘25
- RES 3: 0.8818 High Nov 26 ‘25
- RES 2: 0.8806 76.4% retracement of the Nov 14 - Feb 4 bear leg
- RES 1: 0.8789 HIgh Feb 27
- PRICE: 0.8780 @ 17:55 GMT Feb 27
- SUP 1: 0.8710/8613 50-day EMA / Low Feb 04 and bear trigger
- SUP 2: 0.8597 Low Aug 14
- SUP 3: 0.8578 Low Jul 2 ‘25
- SUP 4: 0.8544 50.0% retracement of the Dec ‘24 - Nov ‘25 bull cycle
A bullish theme in EURGBP remains intact for now. The cross has breached a key short-term resistance at 0.8746, the Jan 21 high. The break highlights a stronger trend reversal and signals scope for an extension higher. Sights are on 0.8806 next, a Fibonacci retracement. On the downside, first support to watch is 0.8710, the 50-day EMA, where a break is required to highlight a potential short-term bear reversal.
GBPUSD TECHS: Resistance At The 20-Day EMA Intact For Now
- RES 4: 1.3868 High Jan 27 and the bull trigger
- RES 3: 1.3814 High Jan 30
- RES 2: 1.3733 High Feb 4
- RES 1: 1.3575/3712 High Feb 26 / High Feb 11
- PRICE: 1.3463 @ 17:47 GMT Feb 27
- SUP 1: 1.3434 Low Feb 19
- SUP 2: 1.3402 Low Jan 22
- SUP 3: 1.3331 Low Jan 19 and a key support
- SUP 4: 1.3288 Low Dec 9 ‘25
The current short-term trend condition in GBPUSD remains bearish and last Thursday’s sell-off reinforces this theme. Sights are on 1.3439 (pierced), the 50.0% retracement of the Nov 4 ‘25 - Jan 27 bull cycle. A clear break of this price point would open 1.3331, the Jan 19 low and a key support. Note that resistance at 1.3554, the 20-day EMA, has been pierced. A clear breach of this average would be a possible early reversal signal.
EURUSD TECHS: S/T Bear Cycle Intact For Now
- RES 4: 1.2081 High Jan 27 and key resistance
- RES 3: 1.2007 76.4% retracement of the Jan 27 - Feb 6 bear leg
- RES 2: 1.1961 61.8% retracement of the Jan 27 - Feb 6 bear leg
- RES 1: 1.1857/1929 High Feb 18 / 10
- PRICE: 1.1819 @ 17:28 GMT Feb 27
- SUP 1: 1.1742 Low Feb 19
- SUP 2: 1.1693 76.4% retracement of the Jan 19 - 27 bull leg
- SUP 3: 1.1670 Low Jan 22
- SUP 4: 1.1573 Low Jan 19 and a key support
EURUSD remains in consolidation mode. For now, a short-term bear cycle is intact. The recent breach of 1.1766, the Feb 6 low, strengthens the bear theme and signals scope for an extension towards 1.1693, a Fibonacci retracement. Note that MA studies are in a bull-mode position. This suggests that the entire bear leg since Jan 27 is potentially a correction. Key S/T resistance is 1.1929, the Feb 10 high. A break of this level would be bullish.
