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Free AccessGoes Nowhere Fast The 55-dma....>
EURO-STERLING TECHS: Goes Nowhere Fast
The 55-dma finally gave way on a closing basis Tuesday, shifting the outlook
firmly negative. EURGBP touched pullback lows of 0.8587 with the next area of
support at 0.8557/54 from the Apr 5 low & 61.8% retracement level. Below here
opens the Apr 4 low at 0.8519, ahead of a run at the psychological 0.85 handle.
To the upside, bulls need to recover the 55-dma, before returning the focus to
the Apr 23 high at 0.8682 and the 0.8700 level.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.