Free Trial

Corrective pullback away from.........>

EURO-STERLING
MNI (London)
EURO-STERLING: Corrective pullback away from Wednesday's high of Gbp0.9010
extended to challenge the 10-dma Thursday, which by time had eased to Gbp0.8967.
Level held the correction and allowed for a bounce to Gbp0.8992 before it
settled around Gbp0.8985 into the close. Consolidation in Asia saw rate
contained within Gbp0.8982/89. 10-dma currently sits back up at Gbp0.8972, while
rate holds above seen keeping the recent uptrend in place, though momentum has
faded. Resistance Gbp0.9000/10 with the topside of the 1.0% 10-dma envelope
edging on to Gbp0.9061, the Jan11 high of Gbp0.9062 close behind. 
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.