Free Trial

Bears Need Close Below..........>

EURO-STERLING TECHS
EURO-STERLING TECHS: Bears Need Close Below Gbp0.8988
*RES 4: Gbp0.9141 High Oct 11
*RES 3: Gbp0.9088 2017 High Aug 8
*RES 2: Gbp0.9063 Hourly resistance Aug 8
*RES 1: Gbp0.9045 High Aug 9
*PRICE: Gbp0.9031 @ 0430GMT
*SUP 1: Gbp0.9010 Low Aug 9 
*SUP 2: Gbp0.8994 High July 21 now support 
*SUP 3: Gbp0.8988 High Aug 2 now support 
*SUP 4: Gbp0.8968 Hourly resistance Aug 2 now support
*COMMENTARY: Despite fresh 2017 and 10mth highs, the lack of topside follow
through was a concern given daily studies looking to correct from O/B and daily
momentum divergence. In saying that, the Gbp0.8988 support remains key. Bears
need a close below Gbp0.8988 to shift focus back to Gbp0.8922-41 where the
21-DMA is noted. Bulls continue to look for a close above Gbp0.9063 to retain
focus on Gbp0.9141-86 where the bull channel top is noted.

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.