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Free AccessFocus Remains On Key............>
EURO-STERLING TECHS: Focus Remains 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: 0.8592/94 High Dec 23 / T-line resistance drawn off the Aug 12 high
*PRICE: 0.8480 @ 05:52 GMT Jan 2
*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
Despite the recent pullback, EURGBP remains bullish. This follows the strong
bounce off the Dec 13 low. The cross has traded close to a key resistance,
currently at 0.8594 marking the trendline drawn off the August high. A break
would represent a key bullish technical development and also signal a more
significant trend reversal. This would open 0.8676 initially, the Oct 24 high.
Initial support is at 0.8452.
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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.