Free Trial

Gains Still Considered Corrective

EURO-STERLING TECHS
  • RES 4: 0.9388 Mar 23 high
  • RES 3: 0.9305 76.4% retracement of the Mar - Apr sell-off
  • RES 2: 0.9292 High Sep 11 and the bull trigger
  • RES 1: 0.9220 High Sep 22
  • PRICE: 0.9197 @ 16:34 BST Sep 22
  • SUP 1: 0.9147 Low Sep 21
  • SUP 2: 0.9083 Low Sep 17 and the bear trigger
  • SUP 3: 0.9075 Low Sep 10
  • SUP 4: 0.9046 50-day EMA

EURGBP remains vulnerable despite edging higher again Tuesday. A key short-term resistance has been defined at 0.9220. Price recently stalled ahead of 0.9305, 76.4% of the Mar - Apr sell-off. This 0.9292, Sep 11 high to 0.9305 zone remains a key resistance. A deeper pullback would open 0.9075, Sep 10 low and 0.9046, the 50-day EMA. Clearance of 0.9220 though would likely signal scope for a test of key resistance.

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.