Free Trial

Back Below Fibo Resistance......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Back Below Fibo Resistance
After reaching its highest level since Jan21 yesterday, EURGBP has fallen back
below the 0.8803 level which represents the 61.8% retracement of 0.9099-0.8621.
To stage another upside breakout attempt the 100-dma/50% retracement/200-dma at
0.8857/60/65 needs to be cleared. These levels come just below the 50-dma and
Jan 16 high at 0.8886/89. On the downside 0.8725 is providing some support with
the 0.87 level providing the next target for bears. This comes ahead of a return
to the Jan 25 ytd low at 0.8617.

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.