The EURGBP pair has recovered somewhat from its most recent drop lower and found support at 0.87714. It has formed a red supportive trend line with three touches and rallied back into the top half of the range. Support closer to the current price level is found at 0.88477 and the 100 DMA. The 50 DMA is found at 0.88356, with the 200 DMA at 0.88145. Further support is found at the rising red trend line at 0.87850, followed by 0.87574 and 0.87162. Below these levels, there is support at 0.86901 and the red descending channel bottom at 0.86376.
Resistance at the blue trend line is located at 0.88926, with 0.89274 above. The 0.89550 is being strengthened by the channel top, with a break out here targeting 0.89816 and the 0.90000 level. A move to the 0.90316 may see a constructive retest of support which, if successful, would challenge resistance overhead at 0.90891, 0.91433 and 0.92018. The high for 2017 comes in at 0.93071.
AUDUSD
The AUDUSD pair has fallen below the 0.78000 level and, in doing so, has broken a supporting trend line at 0.78100. The drop has created a new lower low for the pair at the 0.77170 level, which the price is holding above for now. Further support can be found at the 0.76950 area and at 0.76534, with the October monthly low at 0.76239. The major low from November comes in at 0.74990.
Resistance above is found at 0.77606 and 0.77771, followed by 0.78025. Above the trend line, the 50-period moving average comes into play at 0.78290, with the 0.78430 and 0.78566 levels between it and the 100-period MA at 0.78951. The 200-period MA is located at 0.78708, with important resistance at 0.78900.
