Free Trial

EUR/GBP Settles Back Within the 1.0% 10-dma Envelope. Upside Correction?

EURGBP
MNI (London)
  • Having trade outside the base of its 1.0% 10-dma envelope Thursday and Friday last week the rate has edged back within into this week.
  • The base of the envelope currently comes in at Gbp0.8874, the current move could signal rate's recent corrective pullback as looking suspect bringing the 10-dma (current at Gbp0.8964) back into view.
  • Interim resistance seen at Gbp0.8917(Jan14 high) ahead of Gbp0.8937(Jan13 high). Support Gbp.8866/61.
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.