Free Trial

Back Below 10-dma Turns Outlook Bearish

EURO-STERLING
MNI (London)

Sterling strength Tuesday allowed EUR/GBP to ease back below its technically
key 10-dma (current Gbp0.9081), extending the move to Gbp0.9057
(61.8% Gbp0.9001-0.9148) during the NY afternoon. A break here to expose
the 76.4% retrace level at Gbp0.9036 ahead of stronger support between
Gbp0.9007/01(50-dma/Jul21 low), with the base of its 1.0% 10-dma envelope
currently coming through at Gbp0.8990.

MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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.