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Free AccessCorrective pullback likely:.....>
EURO-STERLING TECHS: Corrective pullback likely:
*RES 4: 0.9070 Trendline drawn off the Oct 7, 2016 high
*RES 3: 0.9062 High Jan 11
*RES 2: 0.9051 High Jul 17
*RES 1: 0.9005 High Jul 23
*PRICE: 0.8956 @ 04:31 GMT Jul 26
*SUP 1: 0.8892 Low Jul 25 and key intraday support
*SUP 2: 0.8873 Low Jun 20
*SUP 3: 0.8830 Low Jun 6
*SUP 4: 0.8796 200-dma
EURGBP has entered a corrective phase following the break of former key support
at 0.8956. The cross briefly traded below 0.8900 yesterday for the first time
since Jun 21, before staging a strong recovery. A return lower and break of
0.8892 would pave the way for weakness towards the early June lows at 0.8830,
ahead of the 200-dma. On the upside, gains back above 0.9000 are required to
signal a resumption of the uptrend trend and open the 0.9051 resistance.
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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.