Free Trial

Below Gbp0.8776 Targets.........>

EURO-STERLING TECHS: Below Gbp0.8776 Targets Gbp0.8647-85
*RES 4: Gbp0.8928 High Jan 12 
*RES 3: Gbp0.8889 High Feb 16 
*RES 2: Gbp0.8876 200-DMA 
*RES 1: Gbp0.8837 Hourly resistance Feb 20
*PRICE: Gbp0.8818 @ 0530GMT
*SUP 1: Gbp0.8776 Low Feb 9 
*SUP 2: Gbp0.8730 Low Feb 8 
*SUP 3: Gbp0.8714 Low Feb 1 
*SUP 4: Gbp0.8685 2018 Low Jan 25
*COMMENTARY: Hesitation ahead of the key Gbp0.8928 resistance has taken its toll
with recent hesitation ahead of the 200-DMA providing the impetus for a break of
21 (Gbp0.8818) & 55 (Gbp0.8832) DMAs. Bears now look for a close below Gbp0.8776
to confirm focus on Gbp0.8647-85 where the bear channel base and 2018 low are
noted. Bulls need a close above the 200-DMA to return focus to Gbp0.8928.

To read the full story



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.