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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.
EURGBP
- As noted earlier, the breach of short-term resistance levels in EURGBP around 0.8510 prompted an extension of BOE related GBP weakness.
- Broad dollar strength has left cable with the most significant move on the day, retreating 1.46% and pondering the first close beneath the 1.35 handle since late September.
- EURGBP will almost definitely close above the 50-day EMA at 0.8507, a clear technical signal improving short-term conditions for bulls.
- The initial target of 0.8561, 61.8% of the Sep 29 - Oct 26 sell-off, has been met with the pair now consolidating around these elevated levels (shown below). If Sterling weakness were to extend ahead of non-farms, a potential higher target for the move includes the September highs at 0.8658.
MNI/Bloomberg
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.
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