Free Trial

Bearish Focus *RES 3: 0.8575....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Bearish Focus
*RES 3: 0.8575 High Dec 2 and initial key resistance
*RES 2: 0.8531 High Dec 4
*RES 1: 0.8491 High Dec 12
*PRICE: 0.8466 @ 17:17 GMT Dec 12
*SUP 1: 0.8393 Low Dec 9
*SUP 2: 0.8384 Low May 10 and a key support
*SUP 3: 0.8355 1.236 projection of Aug 12 - Sep 20 sell-off from Oct 10 high
EURGBP remains in a downtrend managing a fresh trend low on Monday at 0.8393.
Price action maintains a bearish sequence of lower lows and lower highs and the
fact that corrective gains continue to lack any depth and remain shallow,
reinforces the underlying bearish conditions. The recent break of 0.8473, Mar 13
low opens 0.8384 next, a level last traded in May 2017. The initial key
resistance is at 0.8575, Dec 2 high. First resistance is being erased however,
with 0.85 now in view.

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.