Free Trial

Focus Is On Key Trendline.......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Focus Is On Key Trendline Resistance
*RES 4: 0.8676 High Oct 24
*RES 3: 0.8658 High Nov 7
*RES 2: 0.8605 High Nov 22
*RES 1: 0.8580/92 T-line resistance drawn off the Aug 12 high / High Dec 23
*PRICE: 0.8501 @ 16:18 GMT Jan 6
*SUP 1: 0.8452 Low Dec 31
*SUP 2: 0.8356 Low Dec 17
*SUP 3: 0.8277 Low Dec 13 and key support
*SUP 4: 0.8213 1.500 projection of Aug 12 - Sep 20 sell-off from Oct 10 high
EURGBP remains bullish and last week managed to find support off the Dec 31 low
of 0.8452. A bullish theme follows the strong bounce off the Dec 13 low. The
cross has recently traded close to a key resistance, currently at 0.8580. This
marks the trendline drawn off the August high. A break would represent a key
bullish technical development and also signal a more significant trend reversal
opening 0.8676 initially, the Oct 24 high. Initial support is at 0.8452.

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.