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Free AccessBulls Need Close Above..........>
EURO-STERLING TECHS: Bulls Need Close Above Gbp0.8948
*RES 4: Gbp0.9010 55-DMA
*RES 3: Gbp0.8987 Hourly support Oct 12 now resistance
*RES 2: Gbp0.8948 Alternating hourly support/resistance
*RES 1: Gbp0.8931 Hourly resistance Oct 13a
*PRICE: Gbp0.8924 @ 0930GMT
*SUP 1: Gbp0.8908 Hourly support Oct 17
*SUP 2: Gbp0.8856 Low Oct 16
*SUP 3: Gbp0.8801 Low Oct 2
*SUP 4: Gbp0.8746 Monthly Low Sept 27
*COMMENTARY: The rejection above the 55-DMA last week left the pair looking
heavy and flirting with the 21-DMA (Gbp0.8869). Bulls take comfort on support
emerging on dips below the 21-DMA with pressure having returned to Gbp0.8926-48
where the 100-DMA is noted. Bulls need a close above Gbp0.8948 to return focus
to Gbp0.8987-0.9048 where the 55-DMA is located. Correcting O/B daily studies
are seen weighing at present and remain the key concern for bears.
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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.