MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI: PBOC Sets Yuan Parity Higher At 7.1870 Mon; -1.39% Y/Y

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Gains Considered Corrective

EURGBP TECHS
  • RES 4: 0.8512 High Mar 31
  • RES 3: 0.8477 2.0% 10-dma envelope
  • RES 2: 0.8405/8435 High Apr 11 / High Apr 4
  • RES 1: 0.8356 50-day EMA
  • PRICE: 0.8325 @ 15:41 BST Apr 21
  • SUP 1: 0.8250 Low Apr 14 and key near-term support
  • SUP 2: 0.8203 Low Mar 7 and the bear trigger
  • SUP 3: 0.8144 2.0% 10-dma envelope
  • SUP 4: 0.8117 High Apr 7 2016

A bearish cycle in EURGBP remains intact and this week’s recovery is likely a correction. The sharp sell-off between Apr 11 - 14, strengthened the bearish condition. The cross traded below 0.8296, Mar 23 low, as well as 0.8276, 76.4% of the Mar 7 - 31 rally. This opens 0.8203, the Mar 7 low and the next bear trigger. Firm resistance is seen at 0.8405, Apr 11 high. A break would represent a short-term bullish development. Initial resistance is the 50-day EMA at 0.8356 - which was briefly breached on Thursday.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.