Free Trial

Above 55-WMA To End Bearish.....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Above 55-WMA To End Bearish Hopes
*RES 4: Gbp0.8967 2018 High Mar 7 
*RES 3: Gbp0.8904 Low Mar 8 now resistance 
*RES 2: Gbp0.8859 55-WMA 
*RES 1: Gbp0.8826 200-DMA
*PRICE: Gbp0.8813 @ 0430GMT
*SUP 1: Gbp0.8798 Hourly support June 13 
*SUP 2: Gbp0.8756 55-DMA 
*SUP 3: Gbp0.8720 Low June 5 
*SUP 4: Gbp0.8694 Hourly support May 30
*COMMENTARY: Pressure returning to the 200-DMA is a concern for bears although
bulls still need a close above the 55-WMA to confirm traction above the channel
top, ending bearish hopes and targeting 2018 highs. The Bollinger top
(Gbp0.8825) is the key concern for bulls. Initial support is noted at Gbp0.8798
but bears look for a close below the 55-DMA to confirm an easing of bullish
pressure and below Gbp0.8694 to confirm a return in focus to tests of 2018 lows.

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.