Free Trial

100-WMA Confirms Significance...>

EURO-STERLING TECHS
EURO-STERLING TECHS: 100-WMA Confirms Significance
*RES 4: Gbp0.8842 100-DMA 
*RES 3: Gbp0.8830 55-DMA 
*RES 2: Gbp0.8807 Low Mar 16 
*RES 1: Gbp0.8758 High Mar 21
*PRICE: Gbp0.8735 @ 0430GMT
*SUP 1: Gbp0.8707 Hourly resistance Mar 22 now support 
*SUP 2: Gbp0.8667 2018 Low Mar 22 
*SUP 3: Gbp0.8654 100-WMA 
*SUP 4: Gbp0.8599 Low May 24 2017
*COMMENTARY: The significance of the 100-WMA was confirmed Thursday with an
aggressive bounce from fresh 2018 & 10mth lows. Daily studies correcting from
O/S increase the risk of a move back to Gbp0.8807-42 where 21, 55 & 100-DMAs are
situated. Bulls need a close above Gbp0.8758 to confirm. The 100-WMA remains key
support. Bears look for a close below the 100-WMA to target Gbp0.8495-0.8535. A
close below the 100-WMA was last seen in Jan 2016.

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.