Free Trial

Continues to Track Lower Respecting the 1.0% 10-dma Base

EURO-STERLING
MNI (London)

Despite cable's corrective pullback, off Tuesday's high of $1.3482, the move has trailed behind EUR/USD's deeper pullback which in turn has allowed EUR/GBP to press lower. The cross move has been held within a band supported by the base of its 1.0% 10-dma (currently coming through at Gbp0.8855), with resistance provided by the 10-dma, currently at Gbp0.8944. Whilst rate holds below its 10-dma seen keeping the recent bearish tone in place. Rate usually respects the 1.0% envelope bands, often getting repulsed away, though with the occasional move outside.

MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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.