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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
Holding Above Support
- RES 4: 0.9260 2.0% 10-dma envelope
- RES 3: 0.9184 61.8% Fibonacci retracement of the Mar - Apr decline
- RES 2: 0.9176 High Jun 29 and the bull trigger
- RES 1: 0.9148 High Jul 27
- PRICE: 0.9002 @ 16:52 BST Aug 3
- SUP 1: 0.8981 Low Jul 31
- SUP 2: 0.8942 100-dma
- SUP 3: 0.8938 Low Jul 10 and the key near-term support
- SUP 4: 0.8913 Low Jun 16
EURGBP traded lower into the Friday close but remains above key support. This keeps the outlook somewhat bullish for now and follows recent Japanese candle patterns on Jun 13, a bullish engulfing and Jun 10, a doji. Together they signalled a reversal off 0.8938, Jun 10 low and the cross has since traded higher. The focus is on 0.9145, Jun 30 high and 0.9176, Jun 29 high. 0.9001 is the key near-term support.
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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.