Free Trial

Corrective Pullback *RES 4:.....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Corrective Pullback
*RES 4: 0.8676 High Oct 24
*RES 3: 0.8658 High Nov 7
*RES 2: 0.8605 High Nov 22
*RES 1: 0.8596 High Jan 14
*PRICE: 0.8519 @ 05:33 GMT Jan 17
*SUP 1: 0.8509 Low Jan 16
*SUP 2: 0.8452 Low Dec 31 and near-term bear trigger
*SUP 3: 0.8356 Low Dec 17
*SUP 4: 0.8277 Low Dec 13 and key support
EURGBP faced some downside pressure yesterday. The move lower for now is
considered corrective with the outlook still bullish following Monday's break of
key trendline resistance at 0.8544. The trendline is drawn off the Aug 12 high
and the break represents a key bullish technical development signalling a trend
reversal of the decline since Aug 12. The focus is on 0.8605 next, Nov 22 high
and beyond. Key support is at 0.8452, Dec 31 low.

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.