Free Trial

Fresh Lows On Spill Over From GBP Weakness

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Fall Heads Toward Base Of 6.....>

EURO-STERLING TECHS: Fall Heads Toward Base Of 6 Month Trading Range
*RES 4: Stg0.8874 Mar 15 high
*RES 3: Stg0.8839 Mar 16 high
*RES 2: Stg0.8800/08 Mar 19 hourly high, Mar 16 low
*RES 1: Stg0.8765/75 Hourly resistance
*PRICE: Stg0.8714 @0926GMT
*SUP 1: Stg0.8708 Mar 21 low
*SUP 2: Stg0.8687 Jan 25 low
*SUP 3: Stg0.8642 Jun 8 low
*SUP 4: Stg0.8633 2% volatility band
*COMMENTARY* The fallout from the failure to deal with the top of the congested
6 month trading area early in the month, has continued apace this week. A low of
Stg0.8708 on Wednesday, as we head toward the base of the range at Stg0.8687. In
the meantime, any recovery will need to deal with resistance from
Stg0.8765-Stg0.8775 before seeing the opportunity of some respite and greater
correction of those losses from the Mar 7 high at Stg0.8968.

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.