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Free AccessBears Need Close Below 55-DMA...>
EURO-STERLING TECHS: Bears Need Close Below 55-DMA
*RES 4: Gbp0.8967 2018 High Mar 7
*RES 3: Gbp0.8904 Low Mar 8 now resistance
*RES 2: Gbp0.8892 200-DMA
*RES 1: Gbp0.8865 21-DMA
*PRICE: Gbp0.8854 @ 0530GMT
*SUP 1: Gbp0.8845 55-DMA
*SUP 2: Gbp0.8769 Low Feb 26
*SUP 3: Gbp0.8730 Low Feb 8
*SUP 4: Gbp0.8714 Monthly Low Feb 1
*COMMENTARY: The correction lower from 2018 highs continues to find support
around the 55-DMA. Bears continue to look for a close below the 55-DMA to shift
focus back to Gbp0.8685-0.8769 where monthly and 2018 lows are noted. Daily
studies are well placed for a fresh leg lower. The Gbp0.8904 resistance remains
key. Bulls need a close above to confirm a break of the 200-DMA, gain breathing
room and return initial focus to 2018 highs and overall focus to Gbp0.9013-48.
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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.