Free Trial

Channel Top Under Pressure:.....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Channel Top Under Pressure:
*RES 4: 0.9015 High Sep 9
*RES 3: 0.8975 High Sep 13
*RES 2: 0.8971 100-dma
*RES 1: 0.8937 High Oct 1
*PRICE: 0.8904 @ 09:07 GMT Oct 3
*SUP 1: 0.8832 Low Sep 30
*SUP 2: 0.8803 Low Sep 25
*SUP 3: 0.8787 Low Sep 19 and bear trigger
*SUP 4: 0.8772 Low May 22
EURGBP continues to test the top of the broad channel drawn off the Aug 12 high,
that intersects at 0.8907. With the channel top probed this week, today's focus
is on whether the cross can clear Monday's 0.8937 high. This would confirm a
channel breakout. If achieved, it would also signal a trend reversal and open
the 100 dma at 0.8971 initially and the resistance at 0.8975, Sep 13 high would
be exposed too. Support lies at 0.8832, Sep 30 low.

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.