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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.
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Bearish Extension
- RES 4: 0.8925 High Jan 18 and key resistance
- RES 3: 0.8893 50-day EMA
- RES 2: 0.8840 High Feb 4
- RES 1: 0.8797/8814 High Feb 9 / 20-day EMA
- PRICE: 0.8710 @ 05:55 GMT Feb 16
- SUP 1: 0.8706 Intraday low
- SUP 2: 0.8691 Low May 5, 2020
- SUP 3: 0.8671 Low Apr 30, 2020 and a key support
- SUP 4: 0.8595 2.0% 10-dma envelope
EURGBP is lower again today and has reached 0.8711, reinforcing the underlying bearish trend. Moving average conditions remain in a bear mode highlighting the current path of least resistance. The focus is on 0.8700 next and a likely breach of this handle. On the upside, initial firm resistance is at 0.8797, Feb 9 high and 0.8814, the 20-day EMA. A break of this resistance zone would signal a S/T base and allow for a corrective bounce. Bearish!
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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.