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Draghi leaves a mark: *RES 3:...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Draghi leaves a mark:
*RES 3: 0.9061 High Jan 11
*RES 2: 0.9000 Psychological round number
*RES 1: 0.8984 High Jan 15
*PRICE: 0.8936 @ 08:23 GMT June 18
*SUP 1: 0.8896 Trendline support drawn off May 21 low
*SUP 2: 0.8871 Low May 12
*SUP 3: 0.8861 20-day EMA
EURGBP's recent uptrend took it on the chin as Draghi spoke, prompting a
reversal back below the 0.8950 level. The broader themes remain intact, however,
until the cross breaks below trendline support at 0.8896. The break above
0.8932, the Jun11 high, confirms a resumption of the current bull trend
extending the price sequence of higher highs and higher lows. Bulls now have
their sights on the 0.9000 level. The cross is also approaching the next major
resistance at 0.8992, the Jan 3 high and 0.9098, the Aug 28, 2018 high. Initial
key support for now lies at 0.8871.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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