Free Trial

Eying the downside: *RES 4:.....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Eying the downside:
*RES 4: 0.9094 1.0% 10-dma envelope
*RES 3: 0.9072/86 Trendline resistance drawn off Aug 12 high / High Sep 4
*RES 2: 0.9031 High Sep 5
*RES 1: 0.9015 High Sep 9
*PRICE: 0.8930 @ 03:51 GMT Sep 12
*SUP 1: 0.8905 Low Sep 9
*SUP 2: 0.8892/64 Low Jul 25 / Bear channel base drawn off the Aug 12 high
*SUP 3: 0.8873 Low Jun 20
*SUP 4: 0.8830 Low Jun 6
EURGBP is quiet but maintains a bearish outlook following recent spell of lower
lows and lower highs. Furthermore, momentum and moving average studies continue
to point south reinforcing current bearish theme. The cross is approaching the
next objective at 0.8892, the low of Jul 25. Note that this level lies ahead of
0.8864, the base of the bear channel drawn off the Aug 12 high and potentially a
strong support. Initial resistance is at 0.9015 ahead of 0.9031.

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.