Free Trial

Bulls Targeting 21-dma..........>

EURO-STERLING TECHS: Bulls Targeting 21-dma
Despite a minor retracement off yesterday's high at 0.8624, EURGBP has largely
managed to consolidate above the 55-dma & 0.86 handle. Bulls remain in control
with topside focus on a break of the Apr 30 high & cloud top at 0.8652/68. Bears
need a break back under 0.85 to open the YTD Mar 13 low at 0.8472. Any fall
through here would see key Fib support tested at the 0.8468 level, marking the
38.2% retracement of the 0.6936 - 0.9415 range.

To read the full story



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.