Free Trial

Consolidation Remains The.......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Consolidation Remains The Theme
EURGBP holds toward the middle of its daily range, but exhaustion of the bullish
breakout of the upper bound of the trend channel to hold has taken a lot of
momentum out of the rally. Bears need to challenge the 0.8880 area to shift the
short-term outlook back to neutral. A close below 0.8855 would see the outlook
turn bearish before any challenge on the 200-dma at 0.8823. Bulls need to
reclaim the 0.9000 level to regain control and test the 0.9031/33 area. Above
here targets the 2% volatility band at 0.9113.

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.