Free Trial

Cross continues to falter above.......>

EURO-STERLING
MNI (London)
EURO-STERLING: Cross continues to falter above Gbp0.9000, rate has shown its
discomfort at being above this level over a period of time., correcting back to
Gbp0.8984 Wednesday after touching an extended high of Gbp0.9010. Rate currently
seen consolidating within a range of Gbp0.8995-0.9005. A break below to expose
Wednesday's pullback low of Gbp0.8984, with the 10-dma having now moved up to
Gbp0.8970. Whilst rate holds above this latter level is seen keeping upside in
focus, though rate now seen needing a break and clear of Gbp0.9010 to open a
push on toward the Gbp0.9060/62 area (1.0% 10-dma envelope top, Jan11 high). 
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.