Free Trial

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

EURO-STERLING TECHS
EURO-STERLING TECHS: Below 55-DMA To Shift Focus Lower
*RES 4: Gbp0.9013 Monthly High Nov 15 
*RES 3: Gbp0.8981 High Nov 28 
*RES 2: Gbp0.8967 2018 High Mar 7 
*RES 1: Gbp0.8904 Low Mar 8 now resistance
*PRICE: Gbp0.8890 @ 0530GMT
*SUP 1: Gbp0.8870 21-DMA 
*SUP 2: Gbp0.8846 55-DMA 
*SUP 3: Gbp0.8769 Low Feb 26 
*SUP 4: Gbp0.8730 Low Feb 8
*COMMENTARY: A lack of follow through above the Bollinger band top (Gbp0.8953)
has left the pair looking a little heavy following the close below the 200-DMA
(Gbp0.8891) Friday. DMAs noted Gbp0.8846-70 remain the key concern for bulls
with a close below the 55-DMA needed to shift focus back to Gbp0.8685-0.8769
where monthly and 2018 lows are noted. Bulls now need a close above Gbp0.8904 to
gain breathing room and retain focus on Gbp0.9013-48.

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.