Free Trial

Gbp0.8718-54 Resistance Now.....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Gbp0.8718-54 Resistance Now Key
*RES 4: Gbp0.8790 55-DMA 
*RES 3: Gbp0.8754 High Apr 25 
*RES 2: Gbp0.8718 21-DMA 
*RES 1: Gbp0.8709 Hourly resistance Apr 26
*PRICE: Gbp0.8695 @ 0430GMT
*SUP 1: Gbp0.8664 Hourly breakout level Apr 18 
*SUP 2: Gbp0.8641 Hourly support Apr 18 
*SUP 3: Gbp0.8618 2018 Low Apr 17 
*SUP 4: Gbp0.8599 Low May 24 2017
*COMMENTARY: Hesitation ahead of the Gbp0.8795-0.8823 resistance region where
the 55 & 100-DMAs and 55-WMA are noted has been followed up by an aggressive
break of the 21-DMA with immediate focus back on Gbp0.8664 and overall focus
back on 2018 lows. Daily studies are well placed for losses. Bulls now need a
close above the 21-DMA to gain breathing room and above Gbp0.8754 to see
pressure return to Gbp0.8790-0.8822 where key DMA & WMAs are noted.

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.