EURGBP TECHS: Approaching The 50-Day EMA
- RES 4: 0.8545 High Aug 21
- RES 3: 0.8530 76.4% retracement of the Aug 8 - Dec 19 downleg
- RES 2: 0.8494 High Aug 26 ‘24
- RES 1: 0.8421/8474 High Jan 27 / 20 and the bull trigger
- PRICE: 0.8380 @ 08:11 GMT Jan 29
- SUP 1: 0.8364 Low Jan 29
- SUP 2: 0.8357 50-day EMA
- SUP 3: 0.8284 Low Jan 8
- SUP 4: 0.8263 Low Dec 31
EURGBP continues to trade lower this week, extending the correction that started on Jan 20. A bull cycle is intact and moving average studies are in a bull-mode position, highlighting a dominant short-term uptrend. The 20-day EMA at 0.8387 has been breached and this exposes 0.8357, the 50-day EMA. A clear breach of this EMA would highlight a stronger reversal. The bull trigger is 0.8474, the Jan 20 high. A break of it would resume the uptrend.
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EURGBP TECHS: Monitoring Resistance At The 50-Day EMA
- RES 4: 0.8448 High Oct 31 and reversal trigger
- RES 3: 0.8376 High Nov 19 and a bull trigger
- RES 2: 0.8356 High Nov 27
- RES 1: 0.8317/29 50-day EMA / High Dec 27
- PRICE: 0.8297 @ 16:09 GMT Dec 30
- SUP 1: 0.8223 Low Dec 19
- SUP 2: 0.8203 Low Mar 7 2022 and a major support
- SUP 3: 0.8200 Round number support
- SUP 4: 0.8188 1.00 proj of the Oct 31 - Nov 11 - 19 price swing
EURGBP is holding on to the bulk of its recent gains. Resistance at 0.8317, the 50-day EMA, has been pierced - but failed to trigger a sharper move higher. A clear breach of the EMA would undermine the bear theme and highlight a stronger reversal. A resumption of the primary downtrend would pave the way for a move towards major support at 0.8203, the Mar 7 ‘22 low and the lowest point of a multi-year range.
US TSY OPTIONS: Scale Seller Mar'25 10Y Vol
- -10,000 TYH5 109 straddles, 209-211 ref 108-30.5
STIR: Update: Red Dec'25 SOFR Put Buyer
- Update, over +18,000 SFRZ5 95.00 puts 8.0 vs. 96.065/0.10%
