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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI ASIA OPEN: Nov Job Gains, Fed Blackout, CPI/PPI Ahead
MNI UST Issuance Deep Dive: Dec 2024
MNI US Employment Insight: Soft Enough To Keep Fed Cutting
MNI ASIA MARKETS ANALYSIS: Jobs Data Green Lights Rate Cuts
Bull Cycle Remains In Play
- RES 4: 0.8768 High May 5
- RES 3: 0.8736 50.0% retracement of the Feb 3 - Aug 23 downleg
- RES 2: 0.8719 High May 23
- RES 1: 0.8706 High Sep 26 and the bull trigger
- PRICE: 0.8673 @ 06:17 BST Oct 3
- SUP 1: 0.8637 20-day EMA
- SUP 2: 0.8615/8569 50-day EMA / Low Sep 15 and a key support
- SUP 3: 0.8558 Low Sep 11
- SUP 4: 0.8524 Low Sep 06
A bull cycle in EURGBP remains in play and the cross has managed to remain above the 20-day EMA, at 0.8637. Recent gains resulted in a breach of resistance at 0.8611, the Aug 30 high. This was followed by a move above trendline resistance drawn from the Feb 3 high - the trendline intersects at 0.8666. A clear break of the line would strengthen bullish conditions. A break of the 20-day EMA would instead signal scope for a deeper retracement.
To read the full story
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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.