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Free AccessBearish outlook intact: *RES....>
EURO-STERLING TECHS: Bearish outlook intact:
*RES 4: 0.9094 1.0% 10-dma envelope
*RES 3: 0.9083/86 Trendline resistance drawn off Aug 12 high / High Sep 4
*RES 2: 0.9031 High Sep 5
*RES 1: 0.9015 High Sep 9
*PRICE: 0.8925 @ 15:48 GMT Sep 11
*SUP 1: 0.8905 Low Sep 9
*SUP 2: 0.8892/75 Low Jul 25 / Bear channel base drawn off the Aug 12 high
*SUP 3: 0.8873 Low Jun 20
*SUP 4: 0.8830 Low Jun 6
EURGBP maintains a bearish outlook following the recent spell of lower lows and
lower highs. Furthermore, momentum and moving average studies continue to point
south reinforcing the current bearish theme. The cross is approaching the next
objective at 0.8892, the low of Jul 25. Note that this level lies ahead of
0.8875, the base the bear channel drawn off the Aug 12 high and potentially a
strong support. Initial resistance is at 0.9015 ahead of 0.9031.
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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.