Free Trial

Bulls target key resistance.....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Bulls target key resistance at 0.8975:
*RES 4: 0.9108 High Jan 3 and major resistance
*RES 3: 0.9062 High Jan 11
*RES 2: 0.9000 Psychological round number
*RES 1: 0.8960/75 High Jun 24/ Jun 18
*PRICE: 0.8954 @ 04:37 GMT June 26
*SUP 1: 0.8916 Low Jun 25
*SUP 2: 0.8873 Low Jun 20
*SUP 3: 0.8851 Low Jun 7
*SUP 4: 0.8838 100-wma
EURGBP has recently held above the 20-day EMA, and is once again pushing higher.
The underlying trend remains bullish and the focus is now on key resistance at
0.8975, the Jun 18 high. Clearance of this level would confirm a resumption of
the uptrend opening the psychological level of 0.9000. Key support has been
defined at 0.8874, a break of this level is required to suggest a bearish
reversal and thus represents a key risk parameter for bulls.

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.