Free Trial

21-DMA Now Capping *RES 4:......>

EURO-STERLING TECHS
EURO-STERLING TECHS: 21-DMA Now Capping
*RES 4: Gbp0.9226 High Sept 4
*RES 3: Gbp0.9213 High Sept 5
*RES 2: Gbp0.9174 Hourly support Sept 4 now resistance
*RES 1: Gbp0.9164 21-DMA
*PRICE: Gbp0.9136 @ 0430GMT
*SUP 1: Gbp0.9124 Low Sept 6 
*SUP 2: Gbp0.9091 Low Aug 18 
*SUP 3: Gbp0.9051 Low Aug 11 & 15 
*SUP 4: Gbp0.9026 Daily Bull channel base
*COMMENTARY: Pressure on the 21-DMA took its toll with closes below that add
weight to the case for a move that now targets Gbp0.8992-0.9051 where the 55-DMA
and daily bull channel base are situated. Below the 55-DMA then targets
Gbp0.8888-0.8920. Layers of resistance have accumulated with bulls now needing a
close above Gbp0.9174 to signal a false break of the 21-DMA and shift initial
focus back to Gbp0.9226-48.

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.