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Free AccessBears Focused On 200-DMA *RES...>
EURO-STERLING TECHS: Bears Focused On 200-DMA
*RES 4: Gbp0.8920 Hourly resistance Sept 14
*RES 3: Gbp0.8907 High Sept 15
*RES 2: Gbp0.8867 Low Sept 14 now resistance
*RES 1: Gbp0.8832 Hourly resistance Sept 15
*PRICE: Gbp0.8784 @ 0430GMT
*SUP 1: Gbp0.8775 Low Sept 15
*SUP 2: Gbp0.8739 Monthly Low July 14
*SUP 3: Gbp0.8718 Low June 16
*SUP 4: Gbp0.8703 200-DMA, 55-WMA
*COMMENTARY: The correction lower from 2017 highs continued last week with bears
now focused on Gbp0.0.8703 where the 55-WMA and 200-DMA are situated. The
sell-off looks a little overdone with O/S daily studies and Bollinger base
(Gbp0.8834) key concerns for bears. Layers of resistance are following the pair
lower with bulls now needing a close above Gbp0.8867 to ease immediate bearish
pressure and above Gbp0.8920 to shift focus back to the 55-DMA (Gbp0.9012).
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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.