Free Trial

Eventual break of resistance at.......>

EURO-STERLING
MNI (London)
EURO-STERLING: Eventual break of resistance at Gbp0.8927 Tuesday allowed the
cross to extend recovery to Gbp0.8936 before momentum faltered. Rate eased back
to a fresh intraday low of Gbp0.8905 ahead of the close. Recovery in Asia saw
rate settle back above Gbp0.8910 for the most part of the session, dip to
Gbp0.8908 into Europe before it picked up demand that has taken it to a high of
Gbp0.8917. Cross often sees residual month-end demand into a new month, though
interest so far not seen strong. Rate currently trades around Gbp0.8913. 10-dma
today comes through at Gbp0.8908. Resistance remains at Gbp0.8936 ahead of
Gbp0.8947-58(Jul23 high/Jul20 high) with stronger interest noted between
Gbp0.8964/67. Support remains into Gbp0.8900 ahead of Gbp0.8880. 
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.