Free Trial

Gains Welcomed *RES 3: 0.8504...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Gains Welcomed
*RES 3: 0.8504 High Oct 10
*RES 2: 0.8459 High Feb 11
*RES 1: 0.8416 High Feb 20
*PRICE: 0.8385 @ 17:06 GMT Feb 20
*SUP 1: 0.8282 Low Feb 18
*SUP 2: 0.8277 Low Dec 13
*SUP 3: 0.8251 Low Jul 14 2016
EURGBP extended the Wednesday recovery and showed above the 0.84 handle in the
process. The bounce has, so far, been insufficient to counter recent bearish
signals however. The sharp sell-off last week confirmed the bearish tone which
targets the December low at 0.8277. Note, a break of 0.8277 would also highlight
a major bearish breakout of the broad range the cross has been trading within
since Oct 2016. A key S/T resistance has been defined at 0.8538, Feb 4 high.
Initial resistance is at 0.8459.

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.