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Free AccessBulls Need Close Above..........>
EURO-STERLING TECHS: Bulls Need Close Above Gbp0.9248
*RES 4: Gbp0.9248 Low Aug 29 now resistance
*RES 3: Gbp0.9238 High Aug 31
*RES 2: Gbp0.9226 High Sept 4
*RES 1: Gbp0.9213 High Sept 5
*PRICE: Gbp0.9192 @ 0430GMT
*SUP 1: Gbp0.9169 Hourly support Sept 7
*SUP 2: Gbp0.9153 Hourly support Sept 7a
*SUP 3: Gbp0.9118 Low Sept 7
*SUP 4: Gbp0.9091 Low Aug 18
*COMMENTARY: Bears have failed to capitalise further on closes below the 21-DMA
(Gbp0.9172) with the rally from Thursday's lows seeing the pair gaining traction
above the 21-DMA and focus back on Gbp0.9213-48. Bulls need a close above
Gbp0.9248 to return focus to Gbp0.9307-65 where 2016 & 2017 highs and the daily
bull channel top (Gbp0.9346) are noted. Bears now need a close below Gbp0.9153
to pressure Thursday's low and below this level to target Gbp0.8994-0.9048.
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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.