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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
Approaching Key Resistance
- RES 4: 0.8658 High Sep 29 2021
- RES 3: 0.8643 High Sep 30 2021
- RES 2: 0.8619 High May 12 and bull trigger
- RES 1: 0.8590 Intraday high
- PRICE: 0.8533 @ 15:36 BST Jun 6
- SUP 1: 0.8506/8433 20-day EMA / Low May 23
- SUP 2: 0.8393/ 0.8391 Low May 17 / 61.8% of Apr 14 - May 12 upleg
- SUP 3: 0.8367 Low May 2
- SUP 4: 0.8337 76.4% retracement of the Apr 14 - May 12 upleg
EURGBP initially traded higher Monday to deliver a print above resistance at 0..8587, May 24 high, but faded thereafter. This maintains the current bullish theme and attention is on 0.8619, May 12 high and the next hurdle for bulls. Clearance of this level would resume the uptrend that started Mar 7. Initial support is at 0.8506, the 20-day EMA ahead of a firmer short-term at 0.8433, May 23 low. Key short-term support is unchanged at 0.8393, May 17 low and a bear trigger.
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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.