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0.90 remains a level too far:...>
EURO-STERLING TECHS: 0.90 remains a level too far:
*RES 4: 0.9108 High Jan 3 and major resistance
*RES 3: 0.9062 High Jan 11
*RES 2: 0.9000 Psychological round number
*RES 1: 0.8992 High Jun 28
*PRICE: 0.8946 @ 16:41 BST Jul 1
*SUP 1: 0.8936/16 200-hma/Low Jun 25
*SUP 2: 0.8873 Low Jun 20
*SUP 3: 0.8851 Low Jun 7
*SUP 4: 0.8838/30 100-wma / Low Jun 6
EURGBP printed a fresh trend high on Friday at 0.8992 before retreating. Despite
this current pullback, the cross maintains an outright bullish tone with topside
focus on a break and close above the key psychological 0.90 level. The 200-hma &
Jun 25 low represents key support at 0.8936/16. Broader trend support and risk
parameter for bulls has been defined at 0.8873 where a break is required to
instead highlight a bearish reversal.
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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.