Free Trial

Below 55-DMA To Shift Focus.....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Below 55-DMA To Shift Focus Lower
*RES 4: Gbp0.9048 Low Aug 15 now resistance 
*RES 3: Gbp0.9013 Monthly High Nov 15 
*RES 2: Gbp0.8981 High Nov 28 
*RES 1: Gbp0.8967 2018 High Mar 7
*PRICE: Gbp0.8915 @ 0530GMT
*SUP 1: Gbp0.8890 200-DMA 
*SUP 2: Gbp0.8877 Hourly resistance Mar 2 now support 
*SUP 3: Gbp0.8844 55-DMA 
*SUP 4: Gbp0.8769 Low Feb 26
*COMMENTARY: Pressure on the key Gbp0.8928 resistance took its toll with the
close above shifting initial bullish focus to Gbp0.9013-48. The Bollinger band
top (Gbp0.8955) remains the key concern for bulls and limits follow through.
Layers of support remain in place with bears needing a close below Gbp0.0.8877
to gain breathing room and below the 55-DMA to shift focus back to
Gbp0.8685-0.8769 where monthly and 2018 lows are 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.