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MNI POLITICAL RISK ANALYSIS - Week Ahead 9-15 Dec
Bulls Need Close Above..........>
EURO-STERLING TECHS: Bulls Need Close Above 200-DMA
*RES 4: Gbp0.8928 High Jan 12
*RES 3: Gbp0.8869 100-DMA
*RES 2: Gbp0.8841 200-DMA
*RES 1: Gbp0.8796 High Jan 23
*PRICE: Gbp0.8776 @ 0530GMT
*SUP 1: Gbp0.8759 Lows Dec 14 & 15
*SUP 2: Gbp0.8690 Monthly Low Dec 8
*SUP 3: Gbp0.8599 Low May 24
*SUP 4: Gbp0.8568 100-WMA
*COMMENTARY: Failure to gain traction above the 100-DMA (Gbp0.8869) and
rejections ahead of Gbp0.8928 resulted in a sell-off and closes below key DMAs
that sees focus back on Gbp0.8690-0.8759. Bears look for a close below Gbp0.8690
to reconfirm a bearish bias and target tests of Gbp0.8313-80 where 2017 lows are
noted. Bulls need a close above the 200-DMA to ease renewed bearish pressure.
Above Gbp0.8928 shifts initial focus to Gbp0.8981-0.9048.
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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.