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Gbp0.8886-0.8920 Now Key........>
EURO-STERLING TECHS: Gbp0.8886-0.8920 Now Key Support
*RES 4: Gbp0.9045 High Sept 14
*RES 3: Gbp0.9012 55-DMA
*RES 2: Gbp0.8981 Low Sept 12 now resistance
*RES 1: Gbp0.8939 Daily Bear channel top
*PRICE: Gbp0.8934 @ 0430GMT
*SUP 1: Gbp0.8920 Hourly resistance Sept 14 now support
*SUP 2: Gbp0.8907 High Sept 15, now support
*SUP 3: Gbp0.8886 High Sept 22 now support
*SUP 4: Gbp0.8871 Hourly support Oct 4
*COMMENTARY: The recovery from Sept lows has seen the pair close above Gbp0.8920
with bulls now looking for a test of the Gbp0.8981-0.9048 region where the
55-DMA (Gbp0.9012) is located. The bear channel top off 2017 highs comes in at
Gbp0.8939 with a close above needed to add to bullish confidence. Layers of
support are accumulating with bears now needing a close below Gbp0.8907 to gain
breathing room and below Gbp0.8886 to shift focus back to Gbp0.8801.
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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.