Free Trial

Close Below Gbp0.8948 To Ease...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Close Below Gbp0.8948 To Ease Bullish Pressure
*RES 4: Gbp0.9045 High Sept 14
*RES 3: Gbp0.9013 55-DMA
*RES 2: Gbp0.8992 High Oct 6
*RES 1: Gbp0.8972 Hourly resistance Oct 11
*PRICE: Gbp0.8959 @ 0430GMT
*SUP 1: Gbp0.8948 Hourly resistance Oct 11 now support 
*SUP 2: Gbp0.8925 Low Oct 10 
*SUP 3: Gbp0.8906 Low Oct 9 
*SUP 4: Gbp0.8886 High Sept 22 now support
*COMMENTARY: Bulls have failed to capitalise on the close above Gbp0.8920 with
Gbp0.8992-0.9045 resistance key. Bulls need a close above Gbp0.9045 to confirm a
break of the 55-DMA, hint at a move back to Gbp0.8213-0.9306 and above Gbp0.9107
to confirm. Bears now look for a close below Gbp0.8948 to gain breathing room
and below the 21-DMA (Gbp0.8860) to end bearish hopes and target Gbp0.8717-57.

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.