Free Trial

Heavy for now: *RES 4: 0.9130...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Heavy for now:
*RES 4: 0.9130 1.0% 10-dma envelope
*RES 3: 0.9105 Trendline resistance drawn off Aug 12 high
*RES 2: 0.9086 High Sep 4
*RES 1: 0.9031 High Sep 5
*PRICE: 0.8979 @ 08:29 BST Sep 9
*SUP 1: 0.8945 Low Sep 6
*SUP 2: 0.8908/8892 50% retrace of May 6 - Aug 12 rally / Low Jul 25
*SUP 3: 0.8873 Low Jun 20
*SUP 4: 0.8830 Low Jun 6
EURGBP maintains a bearish outlook following last weeks selling pressure that
resulted in a confirmed break of trendline support drawn off the May 6 low. The
cross appears set to extend the current slide and this is supported by trend
directional indicators that are pointing south. The focus is on 0.8908/8892
next, 50% retracement of May 6 - Aug 12 rally and the low of Jul 25 On the
upside, initial resistance is at 0.9031 ahead of 0.9086.

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.