Free Trial

Bullish Following Trendline.....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Bullish Following Trendline Break
*RES 4: 0.8676 High Oct 24
*RES 3: 0.8658 High Nov 7
*RES 2: 0.8605 High Nov 22
*RES 1: 0.8596 Intraday high
*PRICE: 0.8555 @ 16:29 GMT Jan 14
*SUP 1: 0.8537 Former trendline resistance drawn off the Aug 12 high
*SUP 2: 0.8452 Low Dec 31 and near-term bear trigger
*SUP 3: 0.8356 Low Dec 17
*SUP 4: 0.8277 Low Dec 13 and key support
EURGBP is bullish. This condition was reinforced Monday following the break of
key trendline resistance at 0.8544. The trendline is drawn off the Aug 12 high
and the break represents a key bullish technical development plus, signals a
trend reversal of the decline that started on Aug 12. Furthermore, the breach
also signals an extension of the uptrend that began off the Dec 13 low. The
focus is on 0.8605 next, Nov 22 high and beyond. Support is at 0.8537.

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.