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BLOCKs, Jun'23 SOFR Puts

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0.89 Continues to Anchor .......>

MNI (London)
EURO-STERLING TECHS: 0.89 Continues to Anchor 
EURGBP remains locked in a narrow 0.8870-0.8920 range (0.8888-0.8915 contained
through Asia), with a break either side needed for clearer direction. Cross
closed the week at 0.8902 and seen keep bullish hopes alive. Resistance remains
at 0.8920 ahead of recent cycle highs at 0.8933. Above here exposes the 2% upper
Bollinger band & 76.4% retracement of the Jan-Mar fall at 0.8940/53. Bears look
to clear initial support in the 0.8870/75 area, followed by the breakout point
at 0.8850. Below opens broken pivotal resistance-turned-support at 0.8825, ahead
of the 200-dma at 0.8791. 10-dma 0.8888.
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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