Free Trial

Bullish Focus *RES 4: 0.9187....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Bullish Focus
*RES 4: 0.9187 61.8% Fibonacci retracement of the Mar - Apr decline
*RES 3: 0.9169 2.0% 10-dma envelope
*RES 2: 0.9086 50.0% Fibonacci retracement of the Mar - Apr decline
*RES 1: 0.9079 High Jun 23
*PRICE: 0.9041 @ 06:05 BST Jun 24
*SUP 1: 0.8950 Low Jun 18
*SUP 2: 0.9007 Low Jun 19
*SUP 3: 0.8912 Low Jun 16 and key near-term support
*SUP 4: 0.8900/64 50-day EMA / Low Jun 9
EURGBP maintains a bullish structure. The cross traded higher last week and
Friday traded through 0.9055, May 29 high. The focus is on 0.9086 next, a
Fibonacci retracement. Firm support has been defined at 0.8912, Jun 16 low where
a break is required to dampen the bullish mood and even signal a potential
reversal. This would open the 0.8900, 50-day EMA and 0.8864, Jun 9 low.

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.