Free Trial

Bulls focus on a close above....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Bulls focus on a close above 0.90:
*RES 4: 0.9108    High Jan 3 and major resistance
*RES 3: 0.9070    Trendline drawn off the Oct 7 2016 high
*RES 2: 0.9062    High Jan 11
*RES 1: 0.9010    High Jul 10
*PRICE: 0.8993    @ 08:37 GMT Jul 11
*SUP 1: 0.8954    Low Jul 8 and key near-term support
*SUP 2: 0.8947/21 21-dma / Low Jul 2
*SUP 3: 0.8883/73 2% lower Bollinger band / Low Jun 20
*SUP 4: 0.8851    Low Jun 7
EURGBP rallied to multi-month highs of 0.9010 yesterday, further cementing the
outright bullish tone. A close above the key 0.9000 level is required to further
reinforce a resumption of the uptrend, opening the Jan 11 high and down
trendline drawn off the Oct 7 2016 high at 0.9062/70. Initial key support lies
at 0.8954, the low of Jul 8 ahead of the low of Jul 2 at 0.8921. The former
level needs to hold to avoid a corrective pullback.

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.